Key Highlights
- •QCAD becomes Canada’s first regulatory-compliant Canadian dollar-backed stablecoin.
- •Enables instant, low-cost transactions and bridges traditional finance with blockchain.
- •Backed by audited reserves, ensuring transparency, security, and consumer protection.
Canada has officially entered the stablecoin era with the approval of QCAD, marking the country’s first regulatory-compliant Canadian dollar-backed digital token. The milestone was announced by Stablecorp Digital Currencies Inc., the company behind the QCAD Digital Trust, following a multi-year regulatory review by the Canadian Securities Administrators.
The approval qualifies the distribution of QCAD tokens under Canada’s current stablecoin framework, providing a new benchmark for transparency and trust in the nation’s digital asset market. QCAD maintains a 1:1 backing with Canadian dollars held in regulated financial institutions, ensuring stability and security for users.
It’s official! QCAD is now Canada’s first compliant stablecoin!
We are excited to announce this victory not just for Stablecorp, but for Canada!
Learn more and stay tuned for more updates! https://t.co/jGsPmKqETO pic.twitter.com/yDwiTRExBn
— Stablecorp Inc. (@stablecorp) November 24, 2025
Instant Payments and Digital Integration
QCAD enables near-instant, low-cost transactions across Canada and internationally, positioning it as a practical alternative to traditional financial rails. The stablecoin can streamline e-commerce, payroll, remittances, personal payments, and foreign exchange, offering a more efficient and accessible solution for individuals and businesses.
Beyond payments, QCAD acts as a bridge to Canada’s digital economy, integrating with blockchain applications and Web3 innovations. Its 1:1 reserve model, combined with regular audits and public attestations, ensures transparency and consumer protection, addressing one of the critical hurdles for mainstream adoption of digital currencies.
Building Canada’s Digital Financial Future
Stablecorp’s leadership emphasized the broader significance of the launch.
“This approval is not just a victory for Stablecorp; it’s a defining moment for Canada.”
said Jean Desgagne, Chair of Stablecorp. CEO Kesem Frank added that QCAD lays the foundation for an open, efficient, and accessible financial system for all Canadians.
The stablecoin rollout will leverage Stablecorp’s network of exchanges and partners, with backing from industry leaders such as Circle and Coinbase. The approval signals a major step forward in Canada’s digital asset infrastructure, positioning QCAD as an innovation platform and helping Canada compete in the global digital finance landscape.
Despite progress, Canada’s crypto ecosystem still faces challenges. A CBC investigation uncovered a network of unregistered crypto-cash operators allowing people to convert large sums of money with little to no identity verification.