Mentioned:
Stablecoins are coming to Canada. And DeFi Technologies wants to be on the leading edge of it.
What’s happening:
- DeFi Technologies (NASDAQ: DEFT) has made a new strategic investment into stablecoin company Canada Stablecorp
Why it matters:
- The new strategic investment is part of a larger partnership between Canada Stablecorp and DeFi Technologies
Going deeper:
- DeFi Technologies has publicly stated they plan to launch new digital asset products that leverage Canada Stablecorp’s QCAD stablecoin and will also have their wholly owned subsidiary Stillman Digital be the preferred liquidity provider for minting, redeeming and off-ramping QCAD
- Some of the most important companies in crypto have previously invested into Canada Stablecorp, including Coinbase (NASDAQ: COIN) and Circle Internet Group (NYSE: CRCL)
The intrigue:
- DeFi Technologies previously made waves when they formed a joint venture with Fire Labs to launch a new stablecoin issued by a charted bank in the United States of America
