DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”), is pleased to announce that its venture portfolio company Canada Stablecorp Inc. (“Stablecorp“) and the QCAD Digital Trust has signed a definitive agreement under which VersaBank will serve as custodian for the QCAD Digital Trust, supporting reserve custody for QCAD, Canada’s first regulatory compliant Canadian-dollar stablecoin.
DeFi Technologies is an investor in Stablecorp and a strategic collaborator focused on scaling QCAD across product development, liquidity and market access, and long-term security planning as volumes and systemic importance grow over time.
Highlights
- Strengthens institutional-grade infrastructure for QCAD: Custody with a federally regulated Schedule I bank adds another layer of operational and regulatory confidence as QCAD expands across payments and capital markets.
- Supports broader distribution and market readiness: Secure, regulated custody of reserve assets is a key building block for deeper institutional adoption and expanded use cases for tokenized Canadian dollars.
- Reinforces DeFi Technologies’ venture strategy: The milestone aligns with DeFi Technologies’ approach of backing category-defining digital asset infrastructure and supporting commercialization through its integrated platform.
DeFi Technologies’ Perspective on the Custody Agreement
VersaBank stated it will provide custody services for the QCAD Digital Trust using its proprietary VersaVault solution. VersaBank also disclosed it expects to earn a fee based on the value of QCAD assets held in custody and a spread based on QCAD deposits.
DeFi Technologies views regulated custody of reserve assets as a foundational requirement for stablecoin scale, particularly as stablecoins transition from early adoption into more mainstream financial workflows.
“Securing this custodial relationship with a federally regulated, Schedule I bank is a significant milestone for our industry, placing Stablecorp at the forefront of modernizing Canada’s financial infrastructure.” said Kesem Frank, Chief Executive Officer, Stablecorp. “This collaboration with VersaBank marks a new standard for the Canadian digital asset industry, specifically in the context of stablecoin issuance. The VersaVault® solution provides an ideal fusion of regulatory integrity and technological security, which is key to our mission of connecting Canada with the global digital economy in a secure and compliant way.”
“QCAD’s approval as Canada’s first compliant CAD stablecoin was a defining milestone for the Canadian market, and the selection of a federally regulated Schedule I bank as custodian is another important step in building durable, institutional-grade infrastructure around tokenized Canadian dollars,” said Johan Wattenström, Chief Executive Officer and Executive Chairman of DeFi Technologies.
“Stablecoins will increasingly be judged not only by their utility, but by the strength of the operating and custody frameworks behind them,” said Andrew Forson, President of DeFi Technologies. “This kind of custody relationship helps accelerate institutional comfort and enables the next phase of growth where we see opportunities to expand QCAD-linked products, deepen liquidity pathways, and support broader adoption across regulated market channels.”
DeFi Technologies’ Ongoing Support for QCAD
As previously announced, DeFi Technologies and Stablecorp intend to focus on scaling QCAD across three core areas: (i) QCAD-integrated product development (including CAD-linked ETPs and structured solutions), (ii) liquidity and market access (including institutional-grade execution and on/off-ramps), and (iii) security and future-proofing as adoption scales.
