Stablecorp is a joint venture between 3iQ, Canada's largest cryptoasset manager and Mavennet Systems, a leader in blockchain development. The company is behind the issuance of QCAD, the first ever fully-compliant Canadian-dollar stablecoin designed for the mass market. QCAD is currently supported by 22 different ecosystem partners, including exchanges, custodians, payment providers, DEXs and more. Stablecorp's policies are designed to be fully compliant with the requirements of FINTRAC, Canada's major AML agency.
Stablecorp will leverage the Algorand blockchain and its growing ecosystem to explore new, scalable enterprise and consumer implementations of QCAD. Algorand will provide instant confirmation, micro payments and automatic wallet support for the QCAD token. QCAD is the first non-USD backed stablecoin to be issued on Algorand, enabling a synthetic-FX trading pair between a USD stablecoin and a CAD stablecoin on the network. Stablecorp has been awarded an Algorand Foundation Grant to facilitate further adoption of the stablecoin and expand its opportunities for new use cases.
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle's USDC is the fastest growing full-reserve stablecoin in the world, with 2.3 Billion in circulation.