Today we are launching the first mass-market Canadian Dollar stablecoin
Canada Stablecorp Inc. is excited to announce the official launch of its Canadian Dollar stablecoin “QCAD”. Starting today, users can purchase QCAD directly through ecosystem partners DVeX, Netcoins, Bitvo, Newton, and Coinsmart. Trading pairs are offered against Bitcoin, Ether and USDC. QCAD is fully supported by cryptocurrency custodians Balance and Bitgo, and payment & settlement integration is available through Bidali and Gilded Finance.
Canada Stablecorp Inc. is a joint venture between 3iQ, Canada’s largest cryptoasset manager and Mavennet Systems, a leader in blockchain development. QCAD is Stablecorp’s first product release, and is a digital asset with the stability of the Canadian dollar. It is built on the Ethereum blockchain by utilizing the ERC-20 standard and enjoys the full benefits of enabling seamless settlement and full traceability. Stablecorp plans to extend the asset to other networks in the future. QCAD is the first Canadian dollar stablecoin designed for mass market.
“We are excited to be creating an important piece of financial market infrastructure for Canada that will serve the digitization of capital markets and provide a robust payment and settlement solution. QCAD represents a significant opportunity to set a new standard of transparency and auditability in digital currencies and will help drive trust and adoption of stablecoins.” — Jean Desgagne, CEO of Canada Stablecorp,
The digital asset landscape is traditionally characterized by highly volatile price points even for the most prominent assets such as Bitcoin and Ether. Stablecoins provide the advantages of blockchain-based digital assets, while providing an anchored price point. Stablecoins are a critical link between legacy financial infrastructure and the digital native world. Throughout the past year, stablecoins have become the fastest growing digital asset class, expanding from USD $2.4 Billion in Oct 2018 to over $4.94 Billion in November 2019.
“QCAD is a significant stepping stone for the Canadian financial market, establishing an imperative link to the world of digital assets.” — Kesem Frank, President of Mavennet Systems
For 3iQ, this launch comes on the heels of a recent approval of the Bitcoin Fund with the Ontario Securities Commission. According to Fred Pye, President and CEO of 3iQ Corp, this is the next logical step for capital markets in Canada.
“We believe the future of equity and bond trading in this country will move towards digital rails. QCAD is in a position to act as the settlement mechanism for these next generation solutions.” — Fred Pye, President & CEO of 3iQ Corp
Check out our full press release HERE
Thanks to all of our ecosystem launch partners pictured below!
To become a QCAD Authorized Dealer, please reach out to email@example.com
To learn more about QCAD visit: www.stablecorp.ca