Coinbase Partners with Stablecorp to Expand Access to Tokenized Canadian Dollars

According to Coinbase Canada's CEO, Lucas Matheson, the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-collateralized stablecoin, QCAD.

Coinbase is partnering with Canadian stablecoin issuer Stablecorp in a bid to expand access to tokenized Canadian dollars, a company executive told CoinTelegraph at the Blockchain Futurist Conference in Toronto.

According to Coinbase Canada's CEO, Lucas Matheson, the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-collateralized stablecoin, QCAD.

“It’s really important that we have a stablecoin for Canadians,” Matheson said in an interview on May 13. He explained that stablecoins are especially urgent because the country has “no peer-to-peer [payment] rail” and “wire transfers cost $45 and take 45 minutes of paperwork.”

“With stablecoins, 24/7, instant, borderless payments become possible — this is already feasible with existing tech.”

Matheson’s comments come as Canada's new Prime Minister Mark Carney—who previously served as the governor of the Bank of Canada and as a senior official at the International Monetary Fund—has said that he is open to exploring the potential of digital assets.

Coinbase is partnering with Canadian stablecoin issuer Stablecorp in a bid to expand access to tokenized Canadian dollars, a company executive said at the Blockchain Futurist Conference in Toronto.

According to Coinbase Canada's CEO, Lucas Matheson, the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-collateralized stablecoin, QCAD.

“It’s really important that we have a stablecoin for Canadians,” Matheson said in an interview on May 13. He explained that stablecoins are especially urgent because the country has “no peer-to-peer [payment] rail” and “wire transfers cost $45 and take 45 minutes of paperwork.”

“With stablecoins, 24/7, instant, borderless payments become urgent — this is already feasible with existing tech.”

Matheson’s comments come as Canada's new Prime Minister Mark Carney—who previously served as the governor of the Bank of Canada and as a senior official at the International Monetary Fund—has said that he is open to exploring the potential of digital assets.