Toronto-based Stablecorp has raised $2.5 million in strategic capital to upgrade QCAD, its Canadian dollar-denominated stablecoin. The round was led by Coinbase Ventures and Side Door Ventures. Funds will support QCAD’s infrastructure overhaul, including independent reserves, transparent reporting, and new payment and FX integrations.
QCAD will be backed by a dedicated trust and offer direct redemption to Qualified Holders. With stablecoins processing $30 trillion globally last year, Stablecorp aims to digitize Canadian commerce. President Alex McDougall called stablecoins “financial superconductor[s],” while Coinbase Canada CEO Lucas Matheson said Canada must modernize its digital currency infrastructure.
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