According to Betakit, the Canadian stablecoin issuer Stablecorp has completed a $1.8 million financing round, with investors including Coinbase Ventures and Side Door Ventures. The funds will be used to expand the infrastructure of the Canadian dollar stablecoin QCAD, including establishing on-chain foreign exchange liquidity and payment channel integration. The company announced a simultaneous structural reform of QCAD, including establishing an independent trust QCAD Digital Currency Trust to manage reserve assets, implementing daily market value reports, monthly reserve proofs, and annual audits. QCAD is currently jointly operated by the crypto asset management company 3iQ and blockchain developer Mavennet Systems, and received CAD 1.9 million in investment from institutions such as Circle Ventures in 2022.
Canadian stablecoin issuer Stablecorp completes $1.8 million in financing, with Coinbase Ventures and others participating
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