QCAD approved as a compliant Canadian dollar stablecoin
Foresight News reported that DeFi Technologies announced that its portfolio company Stablecorp's QCAD Digital Trust has completed regulatory approval. QCAD has received the final prospectus receipt under Canada's current stablecoin regulatory framework, becoming one of the approved CAD stablecoins. This lays the foundation for the compliance of Canadian dollar-denominated digital currencies and promotes their application in payments and capital markets.
DeFi Technologies announced a strategic investment in Stablecorp this September and has made QCAD the core Canadian dollar rail for its products and trading platform. DeFi Technologies stated that it will launch products integrated with QCAD through Valour, including CAD-pegged ETPs, yield products, and structured products, while also providing institutional-grade liquidity, cross-border payment channels, and minting and redemption support for QCAD.
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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