QCAD: Canada’s First Regulator-Approved Stablecoin
QCAD, a CAD-denominated stablecoin developed by Stablecorp Digital Currencies Inc. (“Stablecorp”), has reached a significant regulatory milestone with the approval of the QCAD Digital Trust’s prospectus by Canadian securities regulators.
Stablecoins are digital tokens designed to hold a steady value relative to traditional currencies or assets, most often the U.S. dollar. As a CAD-denominated stablecoin, QCAD offers Canadians a domestic alternative for fast, low-cost digital transactions.
The Canadian Securities Administrators’ approval follows nearly six years of collaboration between Stablecorp and Canadian securities regulators. QCAD is administered through QCAD Digital Trust (the “Trust”), an arm’s-length Ontario trust serviced by Stablecorp, which holds Canadian dollar reserve assets on behalf of QCAD holders.
Stablecorp has indicated that QCAD will be made available to the public through its extensive network of exchanges and strategic partners. At the same time, the Trust has been designed to remain flexible and align with anticipated changes to Canada’s stablecoin framework, supporting the continued development and evolution of CAD–denominated digital assets.
