Coinsquare Exchange will release steyblecoin pegged to the Canadian dollar

Canada's leading bitcoin exchange Coinsquare has announced the launch of its own stablecock, which will be provided by CAD. The new coin will be traded under the ticker eCAD.

The report of the Toronto-based exchange notes that the new coin will be “a reliable and stable means of preserving value”, offering investors an alternative to the already known steablcoins secured by the US dollar.

“The launch of eCAD will create the first transparent, affordable and reliable way to transfer value in Canada and beyond, without the risks of instability inherent in traditional cryptocurrency markets, ” said Coinsquare Coinsquare, CEO.

The exact timing of the launch of eCAD Exchange, however, did not name.

Earlier this week, a cryptocurrency startup TrustToken, in addition to TrueUSD, which is pegged to the USD, released the second steblecoin – this time backed by the British pound sterling.

Recall, and in February Coinsquare acquired the decentralized stock exchange StellarX.

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