Deloitte, Stablecorp plan stablecoin infrastructure for Canadian institutions

Deloitte will integrate a Canadian dollar stablecoin into institutional payment systems as Ottawa advances new rules governing fiat-backed digital assets.

Deloitte Canada and Stablecorp are collaborating to develop stablecoin infrastructure for Canadian financial institutions, as federal regulators move closer to establishing rules for fiat-backed digital assets.

In a Monday announcement, the professional services firm said it plans to integrate Stablecorp’s Canadian dollar-pegged stablecoin, QCAD, into payment and settlement workflows for institutional clients.

Stablecorp is a Toronto-based fintech company and the issuer of QCAD, a fiat-backed stablecoin designed to maintain a one-to-one value with the Canadian dollar.

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