QCAD approved as a compliant Canadian dollar stablecoin
TL;DR
QCAD has been approved as a compliant Canadian dollar stablecoin under Canada's regulatory framework, enabling its use in payments and capital markets. DeFi Technologies will integrate QCAD into products like ETPs and yield-based offerings.
Tags
According to Foresight News , DeFi Technologies announced that its portfolio company Stablecorp's QCAD digital trust has completed regulatory approval. QCAD has received the final receipt of its prospectus in accordance with the current Canadian 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.
In September of this year, DeFi Technologies announced a strategic investment in Stablecorp, making QCAD the core Canadian dollar track for its products and trading platform. DeFi Technologies stated that it will launch QCAD-integrated products through Valour, including Canadian dollar-pegged ETPs, yield-based products, and structured products, while providing institutional-grade liquidity, cross-border payment channels, and minting and redemption support for QCAD.