For CBDCs, central banks around the world are understanding the benefits of how they can bring the dollar onto the blockchain. With the popularity of crypto and stable coins, they really see that money needs to evolve. CBDC transactions can speed up and secure payments between people and institutions, banks and businesses. It can be convertible, low-cost, secure, flexible and scalable.
This has to be done with participation between industry and Canadian citizens and the Bank of Canada. As early as 2018, we spoke to the Bank of Canada about CBDCs, and we continue to engage with the Bank of Canada to help in any way we can to understand the CBDC space.