The World's First Bank-issued Digital Deposit Receipt

VCAD is a bank-minted tokenized deposit referencing fiat currency on the blockchain, and will be redeemable on a 1:1 basis for cash from a Schedule 1 Canadian bank.

All the benefits of digital assets through a stable and fully regulated token

Financial transactions are time consuming and costly. There is no convenient on-off ramp between crypto-currency and fiat currency. VCAD is a reliable piece of financial market infrastructure that provides an easy way to manage your digital assets with complete transparency and security.
Instant transactions with more coverage and at lower costs
Complete visibility and true ownership of your assets
Automated audits thanks to the transparency and immutability of blockchain
Secure and frictionless transactions in real-time

Stability you can trust

Known as a deposit-backed stablecoin, every digital dollar of VCAD on the internet is represented as a dollar deposit within an issuing chartered Canadian bank, so that it’s always redeemable 1:1 for CAD dollars.

VCAD is a bank-minted alternative to non-bank-issued stablecoins. VCAD will be minted exclusively by Versabank and will be redeemable on a 1:1 basis for cash from a Consortium member bank. VCAD addresses the consumer protection and regulatory concerns of non-bank issued stablecoins and offers a more secure option for transacting on blockchain.

Stablecorp is regulated as a licensed Money Services Business under FINTRAC guidance just like PayPal, Stripe, and Apple Pay.

Key features

VCAD is based on VersaBank's proprietary banking software and the digital currency issuance processes for VCAD are securely managed via VersaVault®, VersaBank subsidiary, DRT Cyber Inc.’s (“DRT Cyber”), a world leading digital bank vault designed to secure digital assets.
VCAD is issued by VersaBank, a Canadian Schedule I Chartered Bank. Schedule I banks are fully audited, well capitalized, and highly regulated by one of the world's most respected financial regulators. In other words, you do not have to worry about the value of your stablecoin or what it is backed by.
VCAD is a Digital Deposit Receipt (DDR) issued by VersaBank, a Canadian Schedule I chartered bank. As a digital asset, VCAD enjoys the full benefits of enabling seamless settlement and full traceability. VCAD provides consumers with not only the security afforded by an underlying deposit with a Canadian chartered bank but also the comfort of knowing that each VCAD will maintain stability with the CAD issued or redeemed.
VCAD is available through approved Authorized Dealers; which are companies that have passed our stringent client onboarding and AML/KYC checks and have the right to buy and sell large quantities of our digital tokens.
VCAD is a multi-chain digital asset built on blockchain architecture and compatible with the majority of global cryptocurrency wallets and infrastructure. VCAD is built on the Ethereum, Algorand and Stellar blockchains.
Lower Costs
So how can we offer lower costs? Technology contributes a great deal to the answer. Building decentralized infrastructure on blockchain enables a more direct path to executing transactions such as foreign exchange and even sending or receiving money. Less groups interacting or touching a transaction means less costs and fees for you our customer.

What is VCAD for?

Capital Markets Position
  • CAD-equivalent tokens provide a digital form of liquidity and funding.
  • Native on-off ramp to crypto makes buying and selling faster and safer, introducing a new standard for volatility protection and digital settlement.
  • Instant settlement against other tokenized assets and applicable to capital markets, exchanges, B2B and FX.
  • Mitigate friction by reducing transaction time and cost.
Institutional Settlement
  • Real-time settlement of transactions between business units and/or related players in complex value-chains. (e.g. automotive, food, oil & gas, etc).
  • Transparent audit trails with customizable access.

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