Stablecorp Digital Currency Inc., a Canadian digital asset infrastructure company, announced that QCAD Digital Trust has received final regulatory approval to distribute QCAD tokens under the Canadian Stablecoin Framework. This makes QCAD the first compliant CAD-backed stablecoin in the country.
This approval comes after several years of work with the Canadian Securities Administrators to develop a regulatory model for digital currency issuance. Stablecoins are intended to enable fast and low-cost money transfers for individuals and businesses, supporting applications such as e-commerce and cross-border payments. It also provides a secure link between TradFi and DeFi.
Stablecorp, backed by Circle and Coinbase, positions QCAD as the foundation for future digital asset development in Canada. Circle is a global issuer of digital currencies and Coinbase is a leading US cryptocurrency exchange. QCAD will be introduced to the public through Stablecorp’s network of exchanges and partners.
Image: Freepik
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