$BTC

Coinbase invested in a Canadian stablecoin issuer

In an exclusive interview with Cointelegraph at the Futurist Conference, the CEO of Coinbase Canada revealed a recent investment in Stablecorp and outlined plans for the local stablecoin market. Coinbase has formed a partnership with Stablecorp, a Canadian stablecoin issuer, to promote access to tokenized Canadian dollars, according to a company executive who spoke with Cointelegraph during the Blockchain Futurist Conference in Toronto.

Lucas Matheson, CEO of Coinbase Canada, revealed that the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-backed stablecoin, QCAD.

"It is 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 "does not have a peer-to-peer payment system" and "bank transfers cost $45 and require 45 minutes of paperwork."