CALGARY, Alberta–(BUSINESS WIRE)–#QCAD–Bitvo Global Inc. (“Bitvo”) is pleased to announce that QCAD, the first Canadian dollar-backed stablecoin, is now live and available to buy, sell and trade on Bitvo’s exchange platform as well as through Bitvo’s over-the-counter desk, which facilitates orders in excess of $50,000.
Canada Stablecorp Inc. is a joint venture between 3iQ, Canada’s largest cryptoasset manager, and Mavennet Systems, a leader in blockchain development. QCAD is Stablecorp’s first product release, and is a digital asset with the stability of the Canadian dollar. It is built on the Ethereum blockchain by utilizing the ERC-20 standard and enjoys the full benefits of enabling seamless settlement and full traceability.
QCAD is the first Canadian dollar stablecoin designed for mass market, according to Jean Desgagne, CEO of Canada Stablecorp, “We are excited to be creating an important piece of financial market infrastructure for Canada that will serve the digitization of capital markets and provide a robust payment and settlement solution. QCAD represents a significant opportunity to set a new standard of transparency and auditability in digital currencies and will help drive trust and mass adoption of stablecoins.”
“Bitvo is excited to be a part of the team bringing QCAD to digital asset traders, both retail and institutional. With the launch of QCAD, the Stablecorp team is filling a gap in the market that Bitvo customers have been searching for and requesting for some time,” said Pamela Draper, President and CEO of Bitvo.
Should you have any questions, please contact Bitvo’s support team at [email protected] or 1-833-86BITVO (1-833-862-4886).
Bitvo Global Inc. is a private company with international reach founded by experienced financial services, payment and banking entrepreneurs, that offers a state-of-the-art cryptocurrency exchange trading platform to make cryptocurrencies easier to access and more secure for its customers and to provide a professional, transparent and efficient cryptocurrency exchange experience.
President & CEO