Canadian Crypto Firms Struggle to Create First Local Stablecoin
While the US Senate advanced far-reaching stablecoin legislation, Canadian companies are pushing to get even the most basic stablecoin products available for users in the country.
A Toronto-based startup backed by Coinbase Global Inc. made a filing with regulators this month asking for approval to create the first publicly-available stablecoin backed by the Canadian dollar. The company, Stablecorp Digital Currencies Inc., asked the Ontario Securities Commission to approve its QCAD product a month after announcing backing from Coinbase Ventures.
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