Stablecoin pegged to the Canadian Dollar (CAD) set for launch by Coinsquare

eCAD a new stablecoin which will be pegged to the Canadian Dollar is upcoming for its launch.
Coinsquare are introducing this new token, which will be used for cross-border payments and remittance, peer-to-peer lending, merchant payment solutions, as well as trade settlements and forex conversions.

Ken Chigbo Independent Analyst

Cryptocurrency exchange Coinsquare are set to launch a stablecoin pegged 1:1 to the Canadian dollar (CAD).

The exchange plans potential roles for its new The upcoming stablecoin will be name “eCAD” token, covering; cross-border payments and remittance, peer-to-peer lending, merchant payment solutions, as well as trade settlements and forex conversions.

The CEO Cole Diamond Coinsquare commented on the announcement:

“The launch of eCAD will create the first transparent, affordable, and secure way of transferring value in Canada and beyond, without the risk of instability in the traditional cryptocurrency market.”

Coinsquare detailed that each of the eCAD tokens are going to have one Canadian dollar backing it in reserve.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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