QCAD Becomes Canada’s First Fully Compliant CAD Stablecoin, Eyes Wider Distribution

Stablecoins have seen strong growth this year as governments adapt regulations to keep pace with the expanding digital asset sector. Amid this wave of development, Stablecorp reported that its QCAD Digital Trust has met Canada’s regulatory requirements and received a final prospectus receipt, making it the country’s first compliant CAD stablecoin.

QCAD Stablecoin Delivers Stability and Key Benefits

QCAD is designed to maintain a stable value, always equal to one Canadian dollar. Each token is backed by an equivalent amount of Canadian dollars held at regulated financial institutions. The token aims to provide faster and more cost-efficient transfers, enabling near-instant domestic and international payments at significantly lower fees than conventional networks.

Beyond payment efficiency, QCAD also performs the following functions:

• It connects Canada’s established financial system with the global digital asset industry, providing a bridge between conventional banking and digital markets.
• This connection allows users to interact with blockchain-based services and explore new Web3 platforms, expanding opportunities in digital innovation.
• Its reserves are regularly audited and publicly attested, giving users confidence and clear visibility into the backing of the stablecoin.

Stablecorp described the completion of the regulatory review as the result of years of close collaboration with the Canadian Securities Administrators. The company added that this effort helps set a higher standard for openness and reliability in the digital asset market and supports broader adoption of digital currencies across the country.

Stablecorp Expands QCAD Following Regulatory Milestone

Building on this regulatory milestone, Stablecorp, backed by major digital-asset firms including Circle and Coinbase, plans to distribute QCAD widely through its network of exchanges and partners. CEO Kesem Frank said the token represents a significant shift in the country’s financial infrastructure, creating a more streamlined and inclusive system that supports growth in the digital economy.

Stablecorp also announced that QCAD will be available on Base Chain, a network aiming to onboard a billion users to blockchain technology. The token supports this goal by making it easier for Canadians to access a stablecoin in their own currency.

Meanwhile, the growth of stablecoins this year has pushed the overall market to a $314 billion market cap, according to CoinMarketCap. Regulatory developments, such as the US GENIUS Act in July, which set rules for payment stablecoins, have encouraged other nations to follow suit. Singapore, for example, is planning updated rules for stablecoins and broadening its central bank digital currency (CBDC) experiments to enhance the country’s overall digital asset framework.