TechFlow news, May 14 — According to Cointelegraph, Coinbase has partnered with and invested in Canadian stablecoin issuer Stablecorp. Lucas Matheson, CEO of Coinbase Canada, revealed at the Toronto Blockchain Futurists Conference that the exchange will invest in Stablecorp and assist in launching its fiat-backed stablecoin QCAD.
Matheson stated that stablecoins are particularly important for the Canadian market due to the lack of a peer-to-peer payment system and high wire transfer costs of up to $45, which also require 45 minutes of paperwork. Currently, Canada still lacks a clear regulatory framework for stablecoins, and Coinbase is calling on the Canadian federal government to establish a national strategy for digital assets.
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