Stablecorp Inc. announced today that the QCAD Digital Trust has received a final receipt for its prospectus from Canadian securities regulators. This approval officially establishes QCAD as Canada’s first fully compliant Canadian-dollar stablecoin operating under the country’s existing regulatory framework for stablecoins.

“From day one, our mission was not to take the easy route, but the right one,” said Jean Desgagne, Chair of Stablecorp. “This approval is not just a victory for Stablecorp; it’s a defining moment for Canada. We have proven that innovation and regulation can go hand-in-hand, providing the robust foundation for the future of the Digital Canadian economy.”

QCAD is a digital token designed to maintain a stable 1:1 peg with the Canadian dollar through reserves held entirely in CAD at regulated Canadian financial institutions. Key benefits include:

• Instant, low-cost transactions – Near-instantaneous domestic and cross-border payments at a fraction of traditional banking fees, benefiting e-commerce, payroll, remittances, and everyday payments.
• Seamless bridge to Web3 – A regulated on-ramp/off-ramp between the traditional Canadian financial system and the global blockchain ecosystem.
• Unmatched transparency – Regular independent audits and public attestations of reserves, delivering institutional-grade trust and consumer protection.

Stablecorp is supported by some of the biggest names in digital assets, including Circle and Coinbase. The successful regulatory approval of QCAD positions the company as a foundational infrastructure provider for the next generation of Canadian digital finance.

QCAD will soon roll out to the broader public through Stablecorp’s growing network of Canadian and international exchanges and partners, marking the start of mainstream adoption of a fully regulated CAD stablecoin.

Read More:
https://www.prnewswire.com/news-releases/canada-stablecorp-landmark-qcad-becomes-canadas-first-compliant-cad-stablecoin-302624200.html