Stablecorp Digital Currencies Inc., a Canadian digital asset infrastructure company, announced that the QCAD Digital Trust has received final regulatory approval to distribute QCAD tokens under Canada’s stablecoin framework. This makes QCAD the country’s first compliant CAD-backed stablecoin.
The approval follows several years of work with the Canadian Securities Administrators to create a regulated model for digital currency issuance. The stablecoin aims to enable fast and low-cost transfers for individuals and businesses, supporting uses 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 a foundation for future digital-asset development in Canada. Circle is a global issuer of digital currencies, while Coinbase is a major U.S. cryptocurrency exchange. QCAD will be introduced to the public through Stablecorp’s network of exchanges and partners.
Image: Freepik