Stablecorp, a prominent Canadian financial technology company dedicated to building bank-grade infrastructure for digital assets, has concluded a strategic financing round, securing approximately C$5 million. This significant investment follows an earlier funding round led by Coinbase Ventures, underscoring continued confidence in Stablecorp’s vision. The newly acquired capital will be instrumental in accelerating the widespread adoption of QCAD, Canada’s leading stablecoin, and further scaling the essential digital money infrastructure that supports it.
FTP Ventures led this recent funding round and saw participation from both existing shareholders and new investors, highlighting broad support for Stablecorp’s mission. The investment is seen as a strong affirmation of the company’s commitment to creating the fundamental building blocks for the future of finance across Canada. Digital dollars are recognized as the most efficient payment mechanism ever developed, and this investment is set to intensify efforts to ensure that both Canadian individuals and businesses can fully leverage the speed, efficiency, and global accessibility that a modern digital economy offers.
At the core of Stablecorp’s offerings is QCAD, a digital currency that maintains a 1:1 backing by Canadian dollar reserves. These reserves are diligently held in an independent trust, managed by an arms-length trustee, ensuring impartiality and security. To uphold the highest standards of transparency and security, these reserves are subject to daily transparency reports and undergo monthly attestations by an independent third party.
This meticulously designed structure is crucial for supporting critical applications such as on-chain foreign exchange, facilitating instant global payments, and introducing innovative solutions within capital markets, ultimately paving the way for a more streamlined and accessible financial future for all Canadians.
KEY QUOTE:
“This is another important step in scaling QCAD for the benefit of all Canadians. It is imperative that Canada takes its place as a significant and strategic market for the growth of the digital asset economy, and our development of a trusted and compliant Canadian dollar stablecoin is a critical piece of that puzzle. Our backing by industry majors signals a shared vision for a multi-currency, easy to access, and regulated digital financial system.”
Stablecorp CEO Kesem Frank
