![]() This means $1 Canadian dollar for $1 QCAD. The deposit amount is based on the amount of QCAD in circulation. When a user buys QCAD, fiat is deposited in a separate account and used only for the purpose of QCAD. QCAD stablecoins are directly linked to fiat in this case the Canadian dollar. Most stablecoins keep the value of the coin stable through the use of bots that are able to process a high number of transactions very quickly. This stablecoin is different to others on the market as it is bought and sold at a cost of one dollar each by a host of Authorized Dealers. QCAD can be used as a bridge asset between crypto and fiat. This alone reflects just how in demand Canadian dollars are for exchanging. Canadian dollars vs US dollars are the fifth most traded exchange pair in the world. QCAD can be sent all over the world quickly and cheaply. Sending money the traditional way can be costly and time consuming. Let’s take a look at what some of these are. This stablecoin can be used for a variety of reasons. According to Netcoins, QCAD was launched with $150,000 Canadian dollars worth of cryptocurrency into the market. QCAD was the first product to be released by Stablecorp and the first for the mass market. The coin is housed on Stablecorp, a network that manages crypto assets and also works as a blockchain solution developer. It is the first mass market, fully-compliant CAD stablecoin. It was built on the Ethereum blockchain as an ERC-20 token and was developed by a company called Canada Stablecorp Inc. QCAD is a Canadian stablecoin that is backed by the Canadian dollar at a 1:1 parity. 7.4 Does QCAD have the potential to gain more value over time?. ![]() 7.2 Do stablecoins like QCAD reduce the amount of time it takes to move between crypto and fiat?.
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