QCAD is issued by Canada Stablecorp which is a joint project between blockchain development company Mavennet Systems and crypto manager 3iQ.
The QCAD is powered by the Ethereum blockchain and Canada Stablecorp hopes that it will see widespread use with foreign exchange. This is not the first time a stablecoin pegged to the Canadian dollar will be issued. However, Desgagne hopes this one will stand the test of time where the others have failed.
Desgagne has also added that QCAD is not a security.
“We believe that it’s not a security, it doesn’t need to touch with securities law. It’s really a mechanism for exchange.”
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