Versabank announces Stablecorp's QCAD as its first stablecoin client

According to a report by Bijie Network: VersaBank has signed a definitive agreement to serve as the custodian for Stablecorp's QCAD, the first regulatory-compliant Canadian dollar stablecoin. The bank will charge fees based on the value of assets held and deposit spreads, and the net interest income from the custody business will be included in its total cash and securities income. VersaBank's CEO stated that its proprietary VersaVault technology, which has achieved SOC 2 certification, offers a strong value proposition for digital asset custody services in Canada and the United States.