Stablecorp Raises $2.5 million for QCAD Stablecoin

Stablecorp Inc. (“Stablecorp”), a Toronto-based fintech company, has secured C$2.5 million (approximately US$1.8 million) in strategic funding to accelerate the growth and advancement of QCAD, its stablecoin pegged to the Canadian dollar. The financing round attracted high-profile investors, including Coinbase Ventures, Side Door Ventures and other venture capital firms. These investments reflect the growing momentum in the digital currency market within Canada.

The newly raised capital will assist Stablecorp in building out the essential infrastructure required to support 24/7 instant borderless payments. This includes developing liquid on-chain foreign exchange (FX) markets and integrating payment rails. These tools are important to enable cross-border payments, trade finance and remittances. A digitized payment system would be faster and cheaper than wire transfers, which typically cost C$45. As global commerce becomes increasingly digitized, these improvements position QCAD to play a significant role in connecting Canada to the digital economy.

Stablecorp’s President Alex McDougall highlighted the strategic importance of this development, stating that stablecoins are “the most efficient rail ever devised to move money both domestically and globally”. He emphasized that with the digitization of global commerce rapidly advancing, Canadians should be able to benefit from the efficiency and innovation offered by digital currencies.