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.
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.