Stablecorp selects TD Bank to hold reserves for its Canadian-dollar stablecoin, aiming to boost institutional adoption by Q4 2026.
$TD will serve as the primary custodian for reserves backing $QCAD, a Canadian-dollar stablecoin issued by Stablecorp Digital Currencies. The agreement covers fiat reserves held in segregated accounts, aligning with compliance requirements for 24/7 CAD payments and settlement.
QCAD is backed one-to-one by CAD and targets institutional users, including exchanges and payment providers. The phased custody rollout is scheduled for Q3 and Q4 2026, as Stablecorp expands the stablecoin’s role in cross-border settlement.
Stablecorp’s chair, Jean Desgagné, stated the move signals a shift from experimental use to broader adoption within Canada’s financial system. The partnership reflects growing integration between digital assets and traditional banking infrastructure.