Canada Stablecorp, a joint venture between 3iQ, Canada’s leading crypto asset manager, and Mavennet, a recognized leader in the blockchain development space has launched QCAD, a new stablecoin that is pegged to the Canadian dollar.
QCAD, which is built on Ethereum blockchain, represents the first product from Canada Stablecorp, which is based in Toronto. It can be used for business-to-business (B2B) transactions as well as institutional settlement in value-chains, such as automotive, oil and gas, and food.
The firm states it can also provide a digital form of liquidity and funding for capital markets position settlement. QCAD is now available on Bitvo, a crypto exchange platform. Jean Desgagne, CEO of Canada Stablecorp believes that the stablecoin represents an opportunity to set a new standard of transparency and auditability in digital currencies. He added that he believes Canada Stablecorp will help drive trust and mass adoption of stablecoins.
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