Coinbase invests in Canadian stablecoin issuer Stablecorp

During the Blockchain Futurist Conference held in Toronto, Lucas Matheson, CEO of Coinbase Canada, revealed that Coinbase has entered into a partnership with Canadian stablecoin issuer Stablecorp, aiming to expand access to tokenized Canadian dollars.

Matheson stated, "The exchange is making an undisclosed investment in Stablecorp and will help promote its fiat-collateralized stablecoin QCAD."

Matheson emphasized that Canada urgently needs a domestic stablecoin solution, as the country lacks peer-to-peer payment infrastructure and traditional wire transfers can cost as much as 45 Canadian dollars and require 45 minutes to process. He said, "Stablecoins can enable 24/7 instant cross-border payments, which is already achievable with existing technology."