51ÔÚÏß

Stablecorp via the QCAD Digital Trust Will Bring the First Regulated Canadian Stablecoin To Market

TORONTO, June 16, 2025 /PRNewswire-PRWeb/ -- The QCAD Digital Trust (QDT), sponsored by Stablecorp, a leading Canadian fintech firm and digital money infrastructure player, announced today that it has filed a preliminary prospectus with the Ontario Securities Commission for the issuance of QCAD, the CAD denominated stablecoin.

The prospectus is being filed pursuant to the Canadian Securities Administrator's ("CSA"'s) unique interim regulatory framework for stablecoins (which the CSA calls Value Referenced Crypto Assets or VRCAs). This framework is currently only applicable in Canada. No legislature or court in Canada has passed legislation or made a judicial decision that VRCAs are securities, and to-date there have been no specific rules or policy statements published by member jurisdictions of the CSA specifically regulating VRCAs. Accordingly, Stablecorp is of the view that QCAD Tokens are not securities as defined in Canadian securities legislation, and that QCAD Tokens and other Fiat-Backed Crypto Assets should be regulated as payment instruments under a prudential framework, which is consistent with regulatory approaches being taken in many other jurisdictions.

On April 4, 2025, the Division of Corporation Finance of the U.S. Securities and Exchange Commission issued a statement on Stablecoins affirming its view that the offer and sale of "Covered Stablecoins" does not involve the offer and sale of securities within the meaning of applicable U.S. securities laws and that persons involved in the minting or redeeming of Covered Stablecoins do not need to register those transactions or seek registration (or an exemption therefrom) pursuant to applicable U.S. securities laws.

, Stablecorp is partnering with Coinbase to bring QCAD to market. QCAD will be issued by QDT, a special purpose vehicle established exclusively to hold the reserve assets through Tetra Trust. Stablecorp Digital Currencies Inc. will act as the Servicer of QDT and will be responsible for minting and burning QCAD. Odyssey Trust acts as the Trustee of QDT. Kingston Ross Pasnak LLP will serve as the auditor of QDT and will provide monthly attestations for the reserves.

"Stablecorp is extremely excited to take this tangible step forward in getting a Canadian Dollar stablecoin out to the broader market. Stablecoins have made exponential progress in the last 18 months and it is critical for this country to not fall behind the global standards" said Alex McDougall, President of Stablecorp. "We have put a significant amount of effort into creating a framework under this prospectus that addresses consumer protection concerns while maintaining the core functionalities necessary for a globally relevant stablecoin."

The QCAD Prospectus is available at

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities in those jurisdictions where QCAD have been designated a security. The preliminary prospectus is still subject to completion or amendment and has only been filed in Ontario. A copy of the preliminary prospectus is available on SEDAR+ (). It is intended that the prospectus, once cleared to file final, will be filed in all other jurisdictions of Canada. There will not be any sale or acceptance of an offer to buy QCAD in Canada until a receipt for the final prospectus has been issued.

About Stablecorp

Stablecorp is a leading Canadian fintech firm building digital money infrastructure to support the global payments space. Through its digital money APIs, Stablecorp has created a suite of embedded digital money solutions that power a variety of financial use cases. For more information, visit

Media Contact
Alex McDougall, Canada Stablecorp Inc., 1 4162716737, [email protected],  

SOURCE Canada Stablecorp Inc.