Coinsquare, a leading Canadian-based cryptocurrency exchange, announced that it is planning to launch its first Canadian dollar (CAD) -linked stable coin .
According to the press release, Coinsquare is aiming to launch the world’s first Canadian dollar valued stable coin and to provide Canadian dollar stability in the market.
Stable coins are named “eCAD” and are pegged on the Canadian dollar at a 1: 1 ratio. Coinsquare reserves one CAD for each eCAD issue.
“We are excited to announce the first steps to bring stability and opportunities to the Canadian cryptocurrency market,” said Cole Diamond, CEO of the company.
Coinsquare’s launch of eCAD will enable it to offer transparent and reliable digital assets, as well as the option to change to stable dollar coin-operated stable coins already in the market.
On the other hand, in the press release announced this time, specific launch plans for eCAD were not mentioned.
Article Source: Coinsquare
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Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/coinsquare-will-launch-cad-backed-stablecoin/
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