Canada has launched yet another stablecoin. The only difference is this new stablecoin is backed by US Dollars instead of the Canadian Dollar. A month later into releasing the Canadian backed currency, CADT; the country now announces CUSD. The stablecoin is termed as CUSD to symbolize its US Dollar backing. The CUSD stablecoin is expected to be used globally, by both individuals and businesses alike. The country aims to strengthen Canada and America cross border payments and trades.
CUSD and CADT are developed by Blockchain Venture Capital Inc. (“BVCI”), a Canadian company.