News Summary

Stablecorp, a Toronto-based digital infrastructure firm, has announced that its QCAD cryptocurrency is the first Canadian dollar-linked stablecoin to receive regulatory approval in Canada. The company has spent nearly six years building the necessary infrastructure to support its CAD-denominated stablecoin. QCAD, managed by the QCAD Digital Trust, has been approved under the existing stablecoin framework by the Canadian Securities Administrators (CSA). This approval allows for the distribution of QCAD Tokens and positions Stablecorp to be ready for Canada’s forthcoming stablecoin regulations. The federal government has recently proposed a draft framework to regulate stablecoin issuers in response to industry demands and similar US legislation. Stablecorp’s CEO, Kesem Frank, stated that the company has developed a ‘future-proofed’ structure in anticipation of the new federal framework, ensuring compliance with current and future regulations. The QCAD stablecoin will be rolled out to the public through Stablecorp’s network of exchanges and partners.