QCAD becomes Canada’s first compliant CAD stablecoin

TORONTO - DeFi Technologies Inc. (Nasdaq:DEFT) (CBOE CA:DEFI) announced Wednesday that its venture portfolio company Canada Stablecorp Inc. has received regulatory approval for QCAD, making it Canada’s first compliant Canadian dollar stablecoin. The micro-cap company, currently valued at just $11.89 million, has seen its stock decline nearly 20% over the past six months according to InvestingPro data.

The QCAD Digital Trust received a final receipt for its prospectus following what the company described as a multi-year regulatory approval process. This establishes QCAD as a regulated, CAD-denominated digital currency within Canada’s current regulatory framework for stablecoins.

DeFi Technologies, which made a strategic investment in Stablecorp on September 25, plans to support QCAD’s growth across three areas: developing QCAD-integrated products through its subsidiary Valour Inc., providing liquidity services, and implementing security measures in coordination with BTQ Technologies Corp. Despite recent stock underperformance, with shares down 4.67% over the past year, the company maintains a "GREAT" financial health score according to InvestingPro metrics.

"QCAD’s approval as Canada’s first compliant CAD stablecoin is a pivotal milestone for Stablecorp and for the Canadian digital asset market," said Johan Wattenström, CEO and Executive Chairman of DeFi Technologies, according to the press release.

Kesem Frank, Stablecorp CEO, stated that the approval "laid the rails for a new financial system" that aims to be "more open, efficient, and accessible for every Canadian." InvestingPro analysis reveals that while DeFi Technologies has struggled recently, with its stock price down 2.11% in the past week, it has delivered strong returns over the longer term. Investors seeking deeper insights into the company’s valuation and growth prospects can access additional ProTips and comprehensive financial metrics with an InvestingPro subscription.

The QCAD Digital Trust is an Ontario trust that holds reserve assets on behalf of QCAD holders. Information about these reserve assets and the terms associated with the QCAD program can be found on Stablecorp’s website and under the trust’s profile on SEDAR+.

DeFi Technologies describes itself as a financial technology company bridging traditional capital markets and decentralized finance, with subsidiaries including Valour, Stillman Digital, Reflexivity Research, Neuronomics, and DeFi Alpha.

In other recent news, DeFi Technologies Inc. reported a revenue of $22.5 million for the third quarter of 2025, a decrease from $28.1 million in the same period last year. The company’s operating income also fell to $9 million compared to $14.4 million in the third quarter of 2024. Additionally, DeFi Technologies announced that its arbitrage trading desk, DeFi Alpha, executed a trade generating approximately $3.2 million in returns, expected to be realized over three years. The company noted that this transaction will be included in its fourth-quarter financial statements for 2025.

In further developments, DeFi Technologies’ subsidiary, Stillman Digital, has partnered with GoDark, an institutional dark pool for digital assets, to enhance its trading capabilities. This collaboration aims to provide large, price-sensitive order execution with high discretion. Meanwhile, Tidal Commodities Trust I, associated with DeFi Technologies, announced a transfer of its sponsor role to Hashdex Asset Management Ltd., which will become effective in the fourth quarter of 2025. This transfer will make Hashdex the sole sponsor of the trust, continuing the operation of the Hashdex Bitcoin ETF. Additionally, Tidal Commodities Trust I reported amendments to its trust agreement, updating the terms related to sponsor withdrawal events.

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