After years of research and consultation, the Bank of Canada has decided to put its plans for a digital Canadian dollar, or "digital Loonie," on hold. Since 2017, the central bank has explored the potential benefits and challenges of introducing a digital currency, driven by rapid digitalization and evolving payment methods. However, despite releasing a staff paper this summer emphasizing the need for such a currency to maintain monetary sovereignty and financial stability, the bank has stepped back from its earlier ambitions according to CBC News, although not confirmed officially on the banks website.

A recent survey conducted by Deutsche Bank reveals that a portion of consumers are hesitant to adopt Central Bank Digital Currencies (CBDCs), favouring traditional forms of payment like cash and debit or credit cards instead. Despite growing interest from central banks globally, consumer sentiment suggests that CBDCs have a long way to go before becoming mainstream.

The Bank for International Settlements (BIS) has announced the launch of the design phase of Project Agorá, an initiative aimed at enhancing the efficiency of international payments and developing programmable financial platforms. The project, which began in April, involves 41 private companies from the financial sector and collaboration with seven central banks. Among the companies participating are major players such as Visa, Mastercard, SWIFT, JPMorgan Chase, HSBC, SIX Digital Exchange, and Monex.

The Bank of Russia has announced that by July 1, 2025, the country's largest banks must enable their customers to open, replenish, and transfer digital rubles, signalling the widespread introduction of the national digital currency. This effort is aimed at making the digital ruble accessible for both citizens and businesses, alongside existing cash and non-cash payment systems.