{"id":129174,"date":"2025-05-13T21:19:44","date_gmt":"2025-05-13T21:19:44","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129174"},"modified":"2025-05-13T21:19:44","modified_gmt":"2025-05-13T21:19:44","slug":"coinbase-invests-in-canadian-stablecoin-issuer","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129174","title":{"rendered":"Coinbase invests in Canadian stablecoin issuer"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCoinbase 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.<br \/>\nAccording to Coinbase Canada&#8217;s CEO, Lucas Matheson, the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-collateralized stablecoin, QCAD.<br \/>\n\u201cIt\u2019s really important that we have a stablecoin for Canadians,\u201d Matheson told Cointelegraph in an exclusive interview on May 13, adding that stablecoins are especially urgent because the country has \u201cno peer-to-peer [payment] rail\u201d and \u201cwire transfers cost $45 and take 45 minutes of paperwork.\u201d<br \/>\n\u201cWith stablecoins, 24\/7, instant, borderless payments become possible \u2014 this is already feasible with existing tech,\u201d he said.\u00a0<br \/>\nLucas Matheson (left) and Sam Bourgi (right) on the sidelines of the Futurist Conference in Toronto. Source: CointelegraphRelated: What Canada\u2019s new Liberal PM Mark Carney means for crypto<br \/>\nBarriers to adoption<br \/>\nAs of May 13, stablecoins have an aggregate market capitalization of around $245 billion, primarily comprising US dollar-backed stablecoins Tether (USDT) and USDC (USDC), according to data from CoinGecko.<br \/>\nStablecorp\u2019s most recent report on QCAD\u2019s fiat reserve backing dates to July 2024, at which time only around $175,000 worth of QCAD were in circulation, according to its website.<br \/>\nStablecorp\u2019s flagship product is QCAD, a fiat-backed stablecoin. Source: StablecorpHowever, \u201cCanada lacks a clear path for stablecoin adoption\u201d in part because its government has yet to \u201cremove securities regulation barriers for fiat-backed stablecoins,\u201d Coinbase said in a March 26 blog post.\u00a0It needs to begin \u201ctreating them as payment instruments rather than securities,\u201d the exchange added.<br \/>\nIn 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.<br \/>\n&#8220;We\u2019re asking the federal government to develop a national strategy for digital assets. Crypto is strategic, and we hope this new administration sees that,\u201d Matheson said.\u00a0<br \/>\nCanada elected Prime Minister Mark Carney during its federal elections in April. Carney has historically been critical of cryptocurrency.\u00a0<br \/>\nMagazine:\u00a0Ethereum is destroying the competition in the $16.1T TradFi tokenization race<a href=\"https:\/\/cointelegraph.com\/news\/coinbase-invests-in-canadian-stablecoin-issuer?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCoinbase 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&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129174"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129174"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129174\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129174"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}