Coinbase invests in Canadian stablecoin issuer
In an exclusive interview with Cointelegraph at the Futurist Conference, Coinbase Canada’s CEO disclosed a recent investment in Stablecorp and outlined plans for the local stablecoin market.
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.”