Coinbase expands its Canadian dollar stablecoin layout and joins hands with Stablecorp to promote QCAD

At the Blockchain Futurist conference held in Toronto recently, Lucas Matheson, CEO of the Canadian branch of the crypto exchange Coinbase, announced that Coinbase has reached a strategic cooperation with the local stablecoin issuer Stablecorp, and plans to jointly expand the accessibility of the Canadian dollar stablecoin QCAD.

Matheson said that Coinbase has made an undisclosed investment in Stablecorp and will help promote its fiat-backed stablecoin QCAD to promote the popularity of crypto payments in Canada. "We believe that QCAD is a key step in solving the shortcomings of Canada's payment infrastructure," he said.

Currently, Canada faces significant challenges in the field of peer-to-peer payments. Traditional wire transfers are not only costly (with a handling fee of up to 45 Canadian dollars), but also take up to 45 minutes to process. Matheson pointed out that the introduction of stablecoins can effectively solve these pain points. "With stablecoins, users can achieve 24-hour, instant, cross-border transfers, which is completely feasible at the technical level."

This cooperation not only reflects Coinbase's long-term commitment to the Canadian market, but also reflects that the crypto industry is increasingly paying attention to the application potential of stablecoins in the local payment ecosystem. As compliant stablecoins such as QCAD gradually gain more mainstream support, Canada is expected to accelerate its entry into a modern financial system based on blockchain.