Coinbase Gives Support to Canadian Stablecoin QCAD
Lucas Matheson, CEO of Coinbase Canada, announced that the company has partnered with Stablecorp, a Canadian stablecoin issuer, to promote its fiat-backed stablecoin, QCAD.
The company is investing an undisclosed amount to enhance access to tokenized Canadian dollars, as shared at the Blockchain Futurist Conference in Toronto.
Matheson emphasized the need for a national digital assets strategy and urged the federal government to consider crypto as strategically important, hoping the new administration would acknowledge its significance.
This comes after Canada’s April federal elections, which led to the election of Prime Minister Mark Carney, known for his previous skepticism towards cryptocurrencies.
In a May 13 interview, Matheson stressed the importance of a stablecoin for Canadians, citing the lack of peer-to-peer payment options and the high cost and complexity of wire transfers.
