Canada's leading bitcoin exchange Coinsquare has announced the launch of its own stablecock, which will be provided by CAD. The new coin will be traded under the ticker eCAD.
Toronto-based exchange notes that the new coin will be “a transparent and reliable asset that global investors can use as a store and transfer of value and as an alternative to several USD-backed stablecoins."
We are thrilled to announce the first step of our plan to bring stability and opportunity to the Canadian cryptocurrency market. 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.
The exact date of new asset isn't reported yet.