Coinbase invests in Canadian stablecoin issuer
Coinbase has partnered with Canadian stablecoin issuer Stablecorp in a bid to expand access to tokenized Canadian dollars, a company executive told Cointelegraph during 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 told Cointelegraph in an exclusive interview on May 13, adding 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,' he said.
Barriers to adoption
As of May 13, stablecoins have an aggregate market capitalization of around $245 billion, primarily comprising US dollar-backed stablecoins Tether and USDC, according to data from CoinGecko.
Stablecorp's most recent report on QCAD's fiat reserve backing dates to July 2024, at which time only around $175,000 worth of QCAD were in circulation, according to its website.
However, 'Canada lacks a clear path for stablecoin adoption' in part because its government has yet to 'remove securities regulation barriers for fiat-backed stablecoins,' Coinbase said in a March 26 blog post. It needs to begin 'treating them as payment instruments rather than securities,' the exchange added.
In April, the US SEC said that stablecoins do not qualify as securities in the country if they are marketed solely as a means of making payments.
'We're asking the federal government to develop a national strategy for digital assets. Crypto is strategic, and we hope this new administration sees that,' Matheson said.
Canada elected Prime Minister Mark Carney during its federal elections in April. Carney has historically been critical of cryptocurrency.
Source: https://cointelegraph.com/news/coinbase-invests-in-canadian-stablecoin-issuer
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fast Company
13-06-2025
- Fast Company
Spot the scam: How to outsmart online cons like a pro
With any innovation comes risk, but those risks can be managed with the right precautions. Protecting yourself online is just as important in your crypto wallet as it is in your email inbox or your banking app. According to the largest ever study of crypto holders in America, which my organization conducted, just 3% reported negative experiences with crypto, and of these, less than a third had experienced fraud or security breaches personally. That's less than 1% total. Compare that to traditional banking scams, where 34% of U.S. adults have experienced in the last year, or online dating, where 40% of users have reported being targeted by scams. The point is that scams happen in every corner of the internet. The good news? The habits that keep you safe in other online spaces also work in Web3. Find the scams before they find you Scams can happen to anyone, anywhere—no matter how smart or tech savvy you may be. By staying alert, you can avoid the hassle and heartache that comes with being swindled. These are some of the most common tactics used by online scammers: Pig butchering: Scammers build fake relationships online—posing as a friend, love interest, or mentor—before persuading you to invest in a 'can't miss' opportunity. Once the crypto or money is sent, the scammers vanish. Pump and dump: A lesser-known token gets hyped up by influencers or group chats, driving up demand. The scam organizers then sell their holdings at the top—leaving latecomers holding the bag. Fake giveaways: Look out for messages claiming you'll receive free crypto if you send a little first. No legitimate organization or person asks you to pay in order to receive a giveaway. Impersonation scams: Fraudsters pretend to be customer service reps, government agencies, or wallet providers to get you to send funds or hand over your login details. Phishing attacks: These often come through fake emails or links on social media, asking you to log in or verify your wallet. The goal? Steal your private keys or seed phrases. Stay safe with smart internet habits Online safety isn't about paranoia—it's about preparation. Governments, companies, and organizations are working to improve consumer protections so that people can use crypto securely. And while those measures can make everyday use more secure, no system is completely foolproof. But with these six simple practices, you can help protect your coins, your identity, and your peace of mind: Never share your private key. Your public wallet address is safe to share (it's like your email) but your private key or recovery phrase gives full access to your wallet (it's like your password). Keep it secret, and store it securely offline. Avoid clicking random links. Whether it's a text, tweet, or email, always double-check the source before responding or clicking. Be skeptical of urgency. Scammers rely on pressure tactics. If someone's telling you to act fast or you'll miss out, take a step back. Real opportunities don't rush you. Research before you invest. Don't believe the hype or anonymous tips. Look up the project, the people behind it, and whether it's widely recognized and reputable. Trust your gut—and verify the details. Misspelled names, strange email addresses, or too-good-to-be-true offers are always red flags. Beware of random texts or emails. 'Hey I found your number in my contacts,' a random 'How are you?' from an unknown number or, other out of the blue overtures should always be treated skeptically. General rule of thumb: If it seems too good to be true, it's probably a scam. Take control of your digital destiny Crypto gives people more control, more access, and more opportunity. But that means nothing without trust and safety. You don't have to be a tech wizard or finance pro to use crypto. You just need to be a little 'crypto curious.' When you decide to dip your toe in, practice and a few smart habits—habits you hopefully already use—like double authentication (where your bank, for example, will text you a code). So let's build a safer digital future together. Not by avoiding what's new, but by learning how to navigate it responsibly.
CTV News
12-06-2025
- CTV News
‘Grateful to help': Flin Flon Chicken Chef owners feeding front-line workers in evacuated town
Dan and Dawn Hlady pose with Manitoba Premier Wab Kinew on June 12, 2025, in Flin Flon. (Dawn Hlady) The owners of Chicken Chef in Flin Flon, Man. have gone from serving up fried chicken and pizza to feeding hundreds of essential workers and first responders who have stayed behind in the evacuated city. Dawn and Dan Hlady have owned and operated the restaurant for 20 years. After a fire in neighbouring Creighton, Sask. broke out late last month, the town was evacuated. Viewer video shows a wildfire burning near Creighton on May 27, 2025. Viewer video shows a wildfire burning near Creighton on May 27, 2025. Dan, who is a Creighton town councillor, stayed behind to help the municipality respond to the crisis. Dawn initially left, but duty soon called. 'As I was sitting in my friend's basement as the evacuee, I just felt like I needed to be here too because he was helping.' She pitched in the only way she knew how – food. Dawn and Dan started cooking for all those who stayed back when others were forced out – municipal and provincial front-line workers and firefighters from both provinces. Dawn Hlady Dawn Hlady prepares a meal for essential workers in Flin Flon, Man. on June 12, 2025. (Dawn Hlady) To feed the hungry heroes, the Hladys are working 14 to 16-hour days. They're up at 4 a.m. every morning so breakfast can be cooked in the restaurant, packed up and transported to both Flin Flon and Creighton feeding sites by 7 a.m. They've had to get creative with the menu, not only because two weeks of straight Chicken Chef would make even the most die-hard fan long for a different meal. 'It's changing every day depending on what kind of products we have,' she said. 'The fire commissioner just sent in another truck, so that was your basics of bread and pasta and potatoes and stuff.' Flin Flon wildfires Dawn's son sits in a truck packed with food supplies in Flin Flon, Man. on June 6, 2025. (Dawn Hlady) Dan, who is a chef, has used AI to help generate menu ideas from the limited supplies to keep things interesting for the diners. 'A person can only eat scrambled eggs and bacon or oatmeal for so long,' Dawn joked. They're feeding more than just humans. Dawn said the community is running out of dog and cat food, so the town's pets are dining on leftover chicken and rice. 'They're getting a gourmet meal,' she joked. Flin Flon Chicken Chef staff and Dawn's sister make food for Flin Flon's pets on June 10, 2025. (Dawn Hlady) While Dawn is tired, every person she feeds, be it with meatloaf or spaghetti or another round of bacon and eggs, is thankful, just as she is for them. 'They're putting in hard days as well, and we're really grateful to help everybody get through,' she said. 'It's not even just being a cook. It's being a shoulder to vent on. It's being supportive of others that aren't around their families. It's just sticking together and staying strong as a community.'
CTV News
12-06-2025
- CTV News
Lethbridge Waste and Recycling Centre undergoing changes to speed up service access
Changes are coming to the Lethbridge Waste and Recycling Centre that will make it twice as fast for residents to access services. Changes are coming to the Lethbridge Waste and Recycling Centre that will make it twice as fast for residents to access services. The city will upgrade the scale house, install two inbound scale decks and create automated fast-track lanes for commercial and frequent customers. The city says the existing scale house and decks will be decommissioned and temporary traffic detours will be set up. According to the city, an average of 1,200 customers visit the Lethbridge Waste and Recycling Centre each Saturday. The city says the upgrades are needed to meet the current demand. 'We process approximately 110,000 tonnes of material that crosses the scale through the landfill, the organics facility and the material recovery facility for recycling as well as hydrovac waste and contaminated site soil and we're just experiencing a lot more tonnage,' said Mandi Parker, City of Lethbridge waste and environment general manager. 'The truck scales—the importance of them—is they basically weigh all vehicles coming in and out and allow us to bill and invoice customers and citizens appropriately,' said Mark Molesky, City of Lethbridge waste engineer. 'So, they're key aspects to the site because basically everybody coming in and out of the site will be utilizing them.' Construction on the new scale house and scale decks is expected to be completed by mid-November.
