Foresight News reports that DeFi Technologies $DEFI (+1,78 %) has announced that the QCAD digital trust of Stablecorp, a portfolio company, has received regulatory approval. QCAD has received final confirmation of receipt of the prospectus under the current Canadian stablecoin regulatory framework, making it one of the approved CAD stablecoins. This lays the foundation for the compliance of Canadian dollar-based digital currencies and promotes their use in payments and capital markets.
DeFi Technologies announced a strategic investment in Stablecorp in September of this year, positioning QCAD as the centralized CAD infrastructure for its products and trading platforms. DeFi Technologies stated that products with QCAD integration will be launched through Valour, including CAD-linked ETPs, income-oriented products and structured products. At the same time, QCAD will provide institutional liquidity, cross-border payment channels and support for minting and redemption.
Source: bitget.com
So there is something positive to report and the share is reacting quite strongly today.
