QCAD Stablecoin: Canada’s Key Initiative to Safeguard Its Digital Financial Independence
- Stablecorp launches QCAD, Canada's first regulated CAD-backed stablecoin, under Ontario trust with 1:1 reserve backing. - Regulatory approval follows multi-year collaboration with Canadian authorities to meet strict compliance standards and preserve monetary sovereignty. - Federal framework positions QCAD as strategic alternative to US-based stablecoins, enabling instant low-cost transactions for e-commerce and cross-border payments. - Backed by Circle/Coinbase, QCAD features regular audits and instituti
Stablecorp Digital Currencies Inc. has obtained regulatory clearance to introduce QCAD, the first fully compliant Canadian dollar stablecoin in Canada,
This regulatory green light fits within Canada's broader strategy to build a strong digital currency infrastructure. The federal government’s budget in November
The introduction of QCAD will utilize Stablecorp’s collaborations with exchanges and financial institutions, aiming to bring the token into everyday financial activities. Although the Bank of Canada maintains the right to levy penalties or conduct security assessments, critics such as John Ruffolo from Maverix Private Equity suggest that
As the race for leadership in digital payments heats up globally, Canada’s regulatory stance stands in contrast to the U.S. Genius Act, which set out explicit stablecoin guidelines. Supporters claim that QCAD’s compliance structure keeps Canada competitive while reducing the risks linked to foreign stablecoins
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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