Coinbase invests in Canadian stablecoin issuer Stablecorp to enter the Canadian dollar stablecoin market

ChainCatcher news, according to Cointelegraph, Coinbase Canada announced a strategic investment in Canadian stablecoin issuer Stablecorp, with the specific amount undisclosed. This collaboration aims to expand the application scenarios of Stablecorp's Canadian dollar stablecoin QCAD, which is supported by a 1:1 Canadian dollar reserve mechanism.

Coinbase Canada CEO Lucas Matheson stated that this move will help address issues such as inefficiency and high costs in Canada's traditional payment systems. Currently, the global stablecoin market size reaches $245 billion, but Canada's regulatory framework has not clearly classified stablecoins as payment tools or securities, which has become a major obstacle to market development.