Canada’s cryptocurrency industry is finally starting to get proactive

Canada is one of the countries that hasn’t yet embraced cryptocurrency but that might be changing as the news about the launch of Canadian Stablecoin and the desire from the national bank to work closely with the industry professionals emerge.

Canada has not been overly enthusiastic about promoting cryptocurrency or making it accessible to the masses. Canada Stablecorp came to be as a result of the joint venture by 3iQ, an asset manager and Mavennet System, a blockchain developer. Now the company will offer the users a new stable coin cryptocurrency that is pegged to the Canadian dollar. This is a huge deal for not only the local cryptocurrency industry but for the financial market infrastructure of the country in general. While still following the same technology like cryptocurrency, stablecoin has minimized volatility, which makes it safer and more appealing to bigger corporations, specifically national banks. 

What does this mean for Canada’s financial…