CADC Reserve Trust Receives OSC Approval for Canadian Dollar Stablecoin Offering
CADC Reserve Trust has received a final prospectus receipt from the Ontario Securities Commission (OSC) to launch a continuous offering of CADC tokens. These blockchain-based tokens are designed to maintain a one-for-one peg with the Canadian dollar, priced at C$1.00 per token. Loon Payments Inc. serves as the administrator for the trust, which utilizes ATB Financial as a custodian to hold segregated reserve funds. The distribution will be managed through a network of Authorized Participants, including crypto trading platforms and financial institutions. Notably, Paytrie has been named an authorized participant, allowing users to trade CADC via Interac e-Transfer.
Topics: Blockchain Fintech Regulatory Compliance Stablecoin Launch