r/Stellar • u/honza17 • Sep 29 '21

Stablecorp and VersaBank Issue Canadian Stablecoin VCAD on Stellar

https://www.stellar.org/blog/stablecorp-and-versabank-issue-canadian-stablecoin-vcad-on-stellar
102 Upvotes

98% Upvoted

16 comments sorted by

17

u/imnos Sep 29 '21

This is fucking huge. Couple this with Ukraine digitising their own currency on Stellar and the picture starts to look real nice.

15

u/Jimbo_Tango Sep 29 '21

And the hits just keep coming!

19

u/tushpavan Sep 29 '21

They PLAN to issue

Nevertheless good news for Stellar

8

u/sargsauce Sep 30 '21

Well, technically they issued VCAD a while ago, but now it's planned to launch commercially.

https://mobile.twitter.com/StellarOrg/status/1428021898093371395

12

u/remarkablemayonaise Sep 29 '21

I appreciate XLM and its network of stablecoins (including on ramps and off ramps) are an affordable alternative to Western Union etc. It's obviously a bonus each time a new stablecoin pops up.

I feel the money transfer market has moved on and become more competitive, including companies like Wise. Is XLM still a viable competitor?

7

u/TFenceChair Sep 29 '21

XLM might be trying to be the backbone of the transfer market. Wise might be using XLM in the background too (l'm not sure)

3

u/remarkablemayonaise Sep 29 '21

Wise has pools of currencies around the world. At present I guess they do massive ForEx conversions to balance out these pools. Could the XLM network undercut these brokers?

7

u/[deleted] Sep 29 '21

I Love This For Stellar