Deloitte Canada is working with Stablecorp to build stablecoin infrastructure for Canadian financial institutions, Cointelegraph reported on March 23 local time.
The project focuses on integrating Stablecorp’s Canadian dollar-linked stablecoin, QCAD, into financial institutions’ payment and settlement systems.
Sumit Chatterjee (수마크 차터지), a partner in Deloitte Canada’s financial services division, said the goal is to help banks and financial institutions adopt stablecoins once a regulatory framework is in place.
The two companies cited key use cases including round-the-clock payment support, improved settlement efficiency compared with existing bank systems, blockchain-based transaction transparency and the potential to develop tokenised financial products. They did not disclose specific bank partners or an adoption timeline.
The Canadian government announced legislation last November to regulate fiat currency-based stablecoins, and the Bank of Canada says stablecoins should be fully backed by high-quality liquid assets and redeemable at face value.
