Deloitte Canada And Stablecorp Launch Stablecoin Infrastructure For Canada Tax consultants Deloitte Canada and financial technology firm Stablecorp have announced the launch of the first stablecoin infrastructure tailored for the Canadian marketplace. Both companies, which operate as privately held entities, emphasized that their collaboration aims to provide financial institutions across Canada with enhanced tools for digital asset integration. This initiative comes as the federal government in Ottawa prepares to introduce Bill C-15, a landmark piece of legislation expected to establish regulatory frameworks for stablecoin adoption and usage within the country. The proposed law is anticipated to foster innovation in digital assets while ensuring compliance and consumer protection. The partnership between Deloitte and Stablecorp combines Deloitte’s expertise in financial services and payments with Stablecorp’s digital asset infrastructure capabilities. The stablecoin infrastructure is designed to leverage blockchain technology to improve the efficiency, reliability, and traceability of financial transactions both within Canada and internationally. “Stablecoins present a significant opportunity for Canada's payments landscape,” stated Soumak Chatterjee, a partner at Deloitte, in a press release. He highlighted the potential of stablecoins to modernize payment systems and support financial inclusion. Stablecoins, which are cryptocurrencies pegged to assets like the U.S. dollar or gold, have gained traction as a reliable alternative to volatile cryptocurrencies. The collaboration aims to make these stablecoins accessible to a broader audience by integrating them into existing financial systems. Stablecorp CEO Kesem Frank noted that the project seeks to ensure the benefits of a Canadian digital dollar are available to all users.#canada #stablecorp #deloitte_canada #bill_c15 #ottawa
Deloitte Canada partners with Stablecorp to build stablecoin infrastructure for Canadian financial sector Deloitte Canada is collaborating with Stablecorp to develop stablecoin infrastructure tailored for Canadian financial institutions, according to a report by Cointelegraph on March 23. The initiative aims to integrate Stablecorp’s Canadian dollar-linked stablecoin, QCAD, into the payment and settlement systems of financial institutions. Sumit Chatterjee, a partner in Deloitte Canada’s financial services division, highlighted that the project’s objective is to enable banks and financial institutions to adopt stablecoins once a regulatory framework is established. The partnership outlined several potential applications, including 24/7 payment support, enhanced settlement efficiency compared to traditional banking systems, blockchain-based transaction transparency, and the development of tokenized financial products. However, the companies did not specify which banks are involved or provide details on the timeline for adoption. The Canadian government has taken steps to regulate fiat currency-based stablecoins, with legislation introduced in November 2023. The Bank of Canada has emphasized that stablecoins should be fully backed by high-quality liquid assets and redeemable at face value. This regulatory approach aligns with the goals of the Deloitte-Stablecorp collaboration, which seeks to balance innovation with compliance. The partnership reflects broader industry efforts to explore the role of stablecoins in modernizing financial systems. By leveraging blockchain technology, the project could address challenges such as settlement delays and lack of transparency in traditional banking processes.#stablecorp #deloitte_canada #qcad #bank_of_canada #cointelegraph
Stablecoin Evolution: Why Deloitte and NovaBay Are Betting on Stablecorp’s QCAD NovaBay Pharmaceuticals’ stock surged 18% after the company announced it is shifting away from its biotech operations and rebranding as “Stablecoin Development Corporation” (SDEV). The rebranding will take effect on April 3, 2026, marking a complete pivot to the cryptocurrency sector. The move comes with $134 million in funding from major investors including Tether and Framework Ventures, which will support SDEV’s focus on stablecoins. The company already holds over 2.06 billion SKY tokens and plans to leverage them for returns through blockchain protocols. Michael Kazley, CEO of SDEV, emphasized the strategy, stating, “We are building the premier public market vehicle to access cash flows within the growing stablecoin economy.” Meanwhile, in Canada, Deloitte Canada has partnered with Stablecorp to develop financial systems using QCAD stablecoins. This collaboration aligns with new legislation like Bill C-15, which signals stablecoins are becoming integrated into the formal financial system rather than remaining a niche crypto concept. Soumak Chatterjee, a Deloitte partner, highlighted the potential, noting, “Stablecoins present a significant opportunity for Canada’s payments landscape.” The partnership aims to create a compliant framework for banks to adopt stablecoins like QCAD, enabling faster transactions, reduced costs, and avoidance of traditional T+2 settlement delays. Kesem Frank, CEO of Stablecorp, added, “Working with Deloitte Canada is a major opportunity to unlock QCAD’s benefits for all.” The stablecoin market is expanding rapidly, with Visa on-chain analytics reporting total stablecoin transactions reaching $69.9 trillion.#novaBay_pharmaceuticals #stablecorp #deloitte_canada #qcad_stablecoin #framework_ventures
