TechFlow News, March 24: According to Cointelegraph, Deloitte and Stablecorp have announced a partnership to integrate QCAD—the Canadian dollar-pegged stablecoin issued by Stablecorp—into institutional clients’ payment and settlement processes, providing infrastructure support for financial institutions such as Canadian banks to adopt stablecoin applications.
Stablecorp is a Toronto-based fintech company, and QCAD is its fiat-backed stablecoin, pegged 1:1 to the Canadian dollar. Soumak Chatterjee, Partner in Deloitte Canada’s Financial Services practice, stated that this collaboration aims to help institutions complete technical preparations ahead of regulatory frameworks coming into effect. Potential use cases cited by both parties include 24/7 payments, improved settlement efficiency, and enhanced transaction transparency via blockchain-based recordkeeping. At present, neither the list of participating banks nor the launch timeline has been disclosed.
