Coinbase Announces Investment in Canadian Stablecoin Issuer Stablecorp

Coinbase announced an investment in Canadian stablecoin issuer Stablecorp to promote its fiat-collateralized stablecoin QCAD. Lucas Matheson, CEO of Coinbase Canada, stated at the Blockchain Futurist Conference on May 13 that Canada lacks a peer-to-peer payment network, with bank transfers being costly and cumbersome. Matheson called for the introduction of stablecoins tailored to the Canadian market to address the current deficiencies in payment infrastructure. (Cointelegraph)