Canada Stablecorp Inc.

Market position

Stablecorp describes itself as one of Canada's leading digital asset infrastructure companies and states that QCAD is Canada's first compliant Canadian dollar stablecoin following the November 2025 prospectus receipt. Company materials note it minted the first Canadian dollar token in 2020 and that it is backed by digital asset industry investors including Circle and Coinbase. Bloomberg's company profile describes it as providing financial technology solutions focused on digital assets and stablecoins for clients in Canada. These characterizations are largely company-sourced.

The company emphasizes regulatory qualification under Canada's interim stablecoin framework via a prospectus filed for the QCAD Digital Trust, an arms-length trust structure with an independent trustee, direct redemption rights for qualified holders, daily reserve reporting, monthly third-party attestations and annual audited statements.

Technology

QCAD is a blockchain token whose value is intended to track one Canadian dollar through 1-to-1 fiat reserves held at regulated financial institutions. Stablecorp provides digital money APIs and payment rail integrations, and has worked to foster on-chain FX liquidity. Earlier QCAD token smart contracts exist and are treated as legacy instruments outside the current prospectus-qualified structure.

Go-to-market

QCAD is distributed through a network of authorized partners, exchanges, financial institutions, fintechs and blockchain companies rather than sold directly to the general public; holders must have an account with an authorized partner or with Stablecorp. The company has stated QCAD will roll out to the broader public through this partner network, and paired its May 2025 Coinbase Ventures financing with a partnership to bring QCAD to market in Canada.

Financial institutions, fintechs, cryptocurrency exchanges and enterprises building payment, foreign exchange and capital markets applications, as well as individuals and businesses making domestic and cross-border payments, remittances and e-commerce, payroll and FX transactions.

Geography

Headquartered in Toronto, Ontario, Canada, with the QCAD Digital Trust constituted as an Ontario trust and clients served in Canada; the stated use cases include cross-border payments, notably the Canada-US corridor, and global remittances and trade finance.

History

Stablecorp says it minted the first Canadian dollar token in 2020 and subsequently pursued a multi-year regulatory approval process with members of the Canadian Securities Administrators. In May 2025 it announced USD 1.8 million in strategic growth capital from Coinbase Ventures, Side Door Ventures and existing investors, alongside a partnership with Coinbase and a planned restructuring of QCAD around an arms-length trust. In September 2025 it closed a follow-on strategic round of approximately C$5 million led by FTP Ventures. On November 24, 2025 it announced that the QCAD Digital Trust had received a final receipt for its prospectus, which the company characterized as making QCAD Canada's first compliant CAD stablecoin.

Risks & controversies

QCAD tokens issued before the November 20, 2025 final prospectus are expressly excluded from the trust-based structure and disclosure regime; their reserve assets are held in a separate custodial account and holders must contact Stablecorp directly to arrange redemption and burning. The company's prospectus is stated to describe risks associated with holding QCAD. Much of the available information comes from company-issued press releases, including one distributed as a paid press release.