TechFlow, September 24 — According to PRNewswire, Stablecorp, a digital asset infrastructure provider, announced the completion of a strategic funding round totaling approximately 5 million CAD. The round was led by FTP Ventures and included participation from existing shareholders and new investors.
The company's flagship product, QCAD, is a stablecoin fully backed 1:1 by Canadian dollar reserves. Stablecorp previously raised funding led by Coinbase Ventures. The new capital will be used to accelerate mainstream adoption of QCAD and expand related digital currency infrastructure. QCAD reserves are held by an independent trustee within a separate trust, with daily transparency reports and monthly third-party attestations.
Fred Pye, founder of FTP Ventures, stated that digital dollars represent the most efficient payment rail ever created. Kesem Frank, CEO of Stablecorp, said this marks a significant step in expanding QCAD for the benefit of all Canadians, emphasizing Canada’s need to secure a key strategic position in the digital asset economy.
