PANews reported on May 14 that according to Cointelegraph, Lucas Matheson, CEO of the Canadian branch of the crypto exchange Coinbase, revealed during the Blockchain Futurist Conference in Toronto that Coinbase has reached a cooperation with Canadian stablecoin issuer Stablecorp to expand access to tokenized Canadian dollars. Matheson said: "The exchange is investing an undisclosed amount in Stablecorp and will help promote its fiat-collateralized stablecoin QCAD."
Matheson stressed that Canada urgently needs a local stablecoin solution because the country lacks peer-to-peer payment infrastructure and traditional wire transfers cost up to 45 Canadian dollars and take 45 minutes to process. He said: "Stablecoins can achieve 24/7 instant cross-border payments, which is a function that existing technology can achieve."
