DeFi Technologies Reaches Milestone with Canada's First Compliant CAD Stablecoin

DeFi Technologies Inc. announced a significant achievement with its venture portfolio company, Stablecorp. The QCAD, a Canadian dollar stablecoin, received compliance approval, marking a first in Canada's digital asset sector. This follows a multi-year regulatory process that aligns with Canada's stablecoin framework.

QCAD's approval sets a new norm for CAD-denominated digital currencies, paving the way for broader adoption in finance. As a result, DeFi Technologies plans to expand QCAD across three main areas: product development, liquidity market access, and security enhancements.

The approval represents a major step for the Canadian digital asset market, according to Johan Wattenström, CEO of DeFi Technologies. This aligns with the company's strategy of bolstering foundational financial infrastructure while providing digital assets to both retail and institutional investors.