Canadian Stablecoin ‘CUSD’ Launches Today
An Ontario based blockchain company is rolling out the first fully-regulated Canadian-delivered USD stable coin. According to news published by Yahoo Finance on November 11, the new stable token aims to ease access to the digital currency asset class in North America and facilitate cross-border transactions between Canada and the U.S.
Blockchain Venture Capital Inc. (BVCI), an Ontario-based company that develops public blockchain and cryptocurrencies digital infrastructure, has just announced the launch of the first Canadian delivered USD stable coin named CUSD.
The launch of the volatility-free token pegged to the U.S. Dollar comes just 4 months later the roll-out of the CADT, the first stable coin backed by Canadian Dollars, launched on July 1, by BVCI itself. CUSD joins a growing list of stable coins pegged to the USD and is up against the heavy competition with other tokens such as USD Tether (USDT), USD Coin (USDC), Paxos Standard (PAX), TrueUSD (TUSD) and Dai.
