Stablecoins Will Eventually “Leapfrog” Real-Time Rail Payments, Finance Leaders Say

Why It Matters

Stablecoins could reshape Canada’s payments landscape, delivering faster, cheaper transactions while addressing sovereignty concerns tied to US‑dollar‑pegged tokens. Their adoption may force banks and regulators to rethink legacy infrastructure and policy.

Key Takeaways

• ATB VP Brian Ford predicts stablecoins will outpace Canada’s RTR system
• Stablecoins offer cheaper, 24/7 settlement versus slower, costly real‑time rails
• Canada plans to launch a CAD‑pegged stablecoin with Tetra Trust backing
• Lack of domestic stablecoins raises sovereignty concerns amid US‑dollar dominance

Pulse Analysis

Canada’s real‑time rail (RTR) program has been plagued by delays, with the government now targeting a 2026 launch. The sluggish rollout has left banks and fintech firms searching for faster, more cost‑effective settlement options. In this context, a panel at the Canadian Finance Summit highlighted stablecoins as a disruptive alternative, emphasizing their ability to settle transactions instantly and around the clock, bypassing the legacy infrastructure that underpins RTR.

Stablecoins promise significant cost savings because they eliminate many intermediary fees associated with traditional rails. Brian Ford, ATB Financial’s vice‑president of business solutions, pointed to the bank’s partnership with Calgary‑based Tetra Trust to develop a Canadian‑dollar stablecoin. A domestic, CAD‑pegged token would not only provide 24/7 liquidity but also address a growing sovereignty debate, as roughly 99% of global stablecoins are tied to the U.S. dollar. By offering a home‑grown digital currency, Canada can retain monetary control while fostering innovation in its financial sector.

If stablecoins gain traction, Canadian banks may need to integrate blockchain settlement layers alongside existing RTR capabilities. Regulators are expected to clarify stablecoin policy in the upcoming Budget 2026, potentially accelerating adoption. The shift could pressure legacy payment networks to lower fees and improve speed, while also opening new revenue streams for institutions that can leverage tokenized assets. Ultimately, the rise of stablecoins may redefine how Canadians move money, positioning the country at the forefront of a digital payments revolution.