Deloitte Partners with Stablecorp for Canadian Stablecoin Infrastructure

Deloitte Canada has joined forces with Toronto-based fintech company Stablecorp to create a stablecoin infrastructure for Canadian banks and other financial institutions.

The partnership aims to integrate Stablecorp's QCAD, a Canadian dollar-pegged stablecoin, into payment and settlement workflows. This move is seen as a preparation for the adoption of stablecoins once a regulatory regime is established in Canada.

According to Deloitte Canada's Soumak Chatterjee, the initiative will enable around-the-clock payments, improve settlement efficiency, and provide blockchain-based recordkeeping for transaction transparency. Additionally, new financial products can be built on tokenized infrastructure.