PANews reported on May 14 that according to Cointelegraph, Lucas Matheson, CEO of Coinbase's Canadian branch, revealed during the Blockchain Futurist conference in Toronto that Coinbase has reached a collaboration with Stablecorp, a Canadian stablecoin issuer, aimed at expanding access to tokenized Canadian dollars. Matheson stated: "The exchange is making an undisclosed investment in Stablecorp and will help promote its fiat-backed stablecoin QCAD."
Matheson emphasized that Canada urgently needs a local stablecoin solution, as the country lacks peer-to-peer payment infrastructure and traditional wire transfer fees are as high as 45 Canadian dollars with a 45-minute processing time. He said: "Stablecoins can enable 24/7 instant cross-border payments, which is already achievable with current technology."
