Are bank-backed cryptocurrencies the future? One Canadian lender wants to find out

At a time when mainstream financial institutions are grappling with how to approach digital assets, one Ontario-based bank is diving right in.

VersaBank, a digital-only ‘Schedule 1’ bank best known for financing corporations and public sector entities, is in the later stages of developing its own digital currency, which it expects to launch later this year, an experiment that would make it the first Canadian bank with its own crypto.