• Finextra
• 24 Feb, 2021

The Ontario-based bank is working with Stablecorp on the VCAD, which it says will be the first digital currency to represent a fiat currency, as well as the first issued by and backed by deposits with a North American bank. VCAD will be issued by VersaBank to financial intermediary partners in exchange for Canadian dollar deposits with the bank utilising smart contracts. These partners will then offer VCAD directly to individuals and businesses, who can use them for commerce and redeem them for
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