![]() Stablecorp recently announced a mega alliance with Algorand, the most innovative, frictionless and highly scalable blockchain network for the launching of the Canadian dollar stablecoin (QCAD), Stablecorp being a benefactor of the Algo foundation grant continues to sustain its development through an alliance with this blockchain provider to grow the fiat-supported stablecoin on the algorand blockchain as the only non usd-usd backed stablecoin ever released on the network. Stablecorp is on a mission to amplify the economy of Canada, this it hopes to achieve through proffering the canadian dollar stablecoin, however, for this to be properly attained requires a sophisticated and more advanced kind of blockchain, on that basis, Algorand tops the chart for Stablecorp. It also has a strict onboarding policy by its authorized dealers.Īs a digital asset developed on a blockchain framework, it is compatible with numerous crypto wallets. #QCAD CRYPTO FULL#Maximum stability and flexibility as 1 QCAD has the same worth with $1canadian dollar, and as a virtual asset, will encourage settlements and enjoy full traceability.įully transparent as the firm responsible for its issuance,Stablecorp, will maintain the balance of Canadian dollar in proportion to how much QCAD is issued. The QCAD is the first mass market canadian dollar stablecoin supported by more than 22 diverse ecosystem partners including exchanges, DEXs, custodians, payment providers etc, some of its unique features include ![]() The QCAD was launched in February 2020 and is not only the first major product release of the Stablecorp company but is also a digital asset which possess the stability of the Canadian dollar. Stablecorp is the firm responsible for the issuance of the QCAD, the Canadian Dollar Stablecoin. is a joint venture between Mavennet system and 3iQ, while the later is regarded as the largest crypto asset manager of the Canadian nation, the former is a high profile front runner in the area of blockchain development. While other countries are still in the process of making a decision on whether to issue digital currencies or not, the Canadian government has adopted a stablecoin proffered by one of its own next generation firms, Stablecorp, for the purpose of improving settlements, business to business transactions as well as payments infrastructure within the Canadian crypto ecosystem. It is interesting to know that different stable coins use different mechanisms to attain price stability, some are decentralized while others are not. In a nutshell, STABLECOIN is a cryptocurrency or digital token which attaches its market value to an external asset in order to minimize the volatility in the price of the coin, it can be used as a store of value or unit of accounts. Meanwhile, the performance of cryptocurrency in the digital market reflects on how volatile the coin is, some are more volatile than the others, however, there is a set of these digital tokens that have a mechanism of checking price volatility. Some of which include China, Senegal, Ecuador, Tunisia, Singapore with nations like Japan, Estonia, Sweden and Russia expecting to join the band in the coming years. ![]() The use of this digital currency is gaining momentum all over the world, for one reason, it proffers a much better store of value for its users, this is why there are already a number of countries which have decided to scrape the paper tender and replace it with digital currency. This system confers control and management of funds and transactions on users (fund owners) without requiring an intermediary in the process.ĭecentralized finance has been made possible with the use of cryptocurrency, a virtual kind of money that is backed fully by strong cryptography, a quality that keeps it from being counterfeited or double spent and of course the immutable blockchain infrastructure to achieve full decentralization. It is a much better alternative than the traditional solutions which had hampered users total financial freedom. ![]() DeFi or Decentralized Finance is the new paradigm in the world's financial system. ![]()
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