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ARTICLE · 01 MAY 2026

Blockchain Powered Payments: How Stablecoins, Tokenized Deposits, And Digital Payment Instruments Can Reshape The Canadian Payments Landscape

Torys
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Fiat-backed stablecoins are rapidly emerging as viable payment alternatives, but without a clear Canadian regulatory framework, domestic digital payments risk being overshadowed by foreign-issued stablecoins. This discussion explores the regulatory, economic, and policy considerations necessary for Canada to establish a competitive blockchain-based payment system that maintains domestic control while harnessing the full potential of digital currency innovation.

CanadaTechnology
Peter Aziz
Peter Aziz
Mohammed Muraj
Mohammed Muraj
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Fiat-backed stablecoins are swiftly gaining ground as an alternative means of payment. How can Canada harness the full potential of this digital revolution? Without a clear domestic framework to support the use of blockchain-based payments linked to the Canadian dollar, Canadian digital payments risk being eclipsed by foreign-issued stablecoins, which could weaken domestic regulatory control over the system as a whole.

In this podcast, taken from a recent webinar, members of Torys’ Fintech team speak with Peter MacKenzie, Senior Policy Analyst at C.D. Howe Institute and co-author of The Window is Closing: How Canada Can Shape the Future of Stablecoins and Digital Payments, about the regulatory, economic, and policy considerations needed for Canada to establish a regulatory model for blockchain-based payments to compete in the digital payments market on a global scale.

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