📉 In Canada, cryptocurrencies remain the least preferred payment method. Less than 3% of citizens used Bitcoin or other cryptocurrencies for everyday payments in 2022 and 2023, according to a Bank of Canada survey. More than 80% of respondents said they have no plans to go cashless in the future.

Despite the stagnation of cryptocurrency adoption, the Bitcoin ATM ecosystem continues to actively develop in Canada. The country ranks second in the world in the number of cryptocurrency ATMs after the United States.

At the same time, the Bank of Canada is actively working on financial innovation and recently opened a new innovation hub in collaboration with the Bank for International Settlements.