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The Bank of Canada is Launching It's own Digital Currency?!Simply put, a Digital Canadian Dollar would be a digital form of the cash in your wallet. Like cash, it could buy the things you need. But the advantage is that. There is currently no need for a digital currency in Canada, the central bank said in the release. More on Money. As auto theft summit begins. Learn more about our ongoing work on digital currencies. This includes research on a Canadian central bank digital currency (CBDC) and on financial.