Coinsquare, one of Canada’s top crypto exchanges, will be launching a stablecoin backed by the Canadian dollar dubbed eCAD, according to a press release on April 4.
The new coin will purportedly be backed at a 1:1 ratio with Canadian dollars. Coinsquare states that the new coin will be a reliable and stable store of value that provides investors with an alternative to similar coins backed by the United States dollar. Cole Diamond, CEO of Coinsquare said:
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