VersaBank is developing a custody solution in compliance with the Canadian government's stablecoin regulatory program.

Foresight News reported that VersaBank, a federally licensed Canadian custodian, announced that it has begun collaborating with third-party stablecoin issuers to develop a national bank-based, SOC2 Type 1 certified custody solution that complies with the Canadian government's stablecoin regulatory program.

The Canadian government passed its budget on November 17, 2025, which includes the establishment of a comprehensive regulatory framework for stablecoins.