Canada's Stablecoin Act is now law · enforcement lands 2027
Three issuers. Fifteen statutory obligations. A countdown to enforcement. StableLoonie tracks every requirement in Canada's Stablecoin Act against public evidence — demonstrated, in progress, or pending.
With sources, supply data, and a calculator showing what CAD-native settlement saves Canadian businesses today.
00 — Market Tracker
Momentum bars show period-over-period change (green up / pink down). On the trend, filled points are direct readings — onchain explorer totals (Blockscout/Etherscan) or published aggregator figures; hollow circles are interpolated estimates between readings. Per-token method noted in each row; all figures in CAD-token units. See changelog for each data revision.
QCAD — first CAD stablecoin with an approved CSA prospectus across all 13 jurisdictions. CADD — first issued by a regulated financial institution. All three tracked against 15 requirements in the Stablecoin Act.
Stablecorp
QCAD Digital Trust
CAD Digital Inc. (Tetra Trust Co.)
CADD Canadian Dollar Token
Loon (ex-Paytrie)
CADC Canadian Dollar Coin
03 — Programmable Layer
Payments Canada targets Q3 2026 for RTR launch. Regulators expect CAD stablecoins to act as a programmable layer on top — enabling conditional and 24/7 settlement that traditional bank rails can't yet handle. That same programmability now reaches across borders: QCAD settles CAD/USD onchain via Circle's Arc and StableFX.
Hover any block for detail.
Cross-border · Circle Arc + StableFX
The programmable layer isn't only domestic. On May 21, 2026, Stablecorp issued QCAD on Circle's Arc testnet and integrated StableFX — making QCAD/USDC the first onchain CAD/USD settlement pair, with payment-versus-payment atomic settlement and T+0 finality. It brings stablecoin programmability to the ~$150B/day USD/CAD corridor, complementing the domestic RTR stack above rather than replacing it. QCAD joins USDC and EURC as one of the first assets on StableFX; production follows Arc mainnet launch.
Read the announcement →15 requirements across 8 categories. Three issuers tracked against every obligation in the Stablecoin Act — with evidence links and source citations.
View scorecard → 02 — Issuer ComparisonQCAD vs CADD vs CADC — side-by-side comparison across funding, backers, blockchain networks, custody, exchange listings, and regulatory status.
Compare issuers → 03 — FX Cost CalculatorHow much does routing through USD stablecoins cost a Canadian business per year? Model your cross-border payment volume against CAD-native settlement.
Run the numbers →of stablecoins in circulation are pegged to the US dollar. Desjardins warned that unchecked USD stablecoin adoption poses a risk to Canadian monetary sovereignty.
in stablecoins are already in circulation globally, projected by Deloitte Canada to reach $2.5 trillion by 2028. Canada needs its own compliant alternatives.
received Royal Assent on March 26, 2026. The Stablecoin Act has an in-force date no earlier than mid-February 2027 and $10M committed to BoC supervision over two years.
In April 2026 the Bank of Canada confirmed it scaled down retail Digital Canadian Dollar work, citing "no compelling case" given the rise of regulated private alternatives. Stablecoins are now Canada's primary digital-CAD path.
Regulatory watch · Yield prohibition
The Stablecoin Act bans paying interest or yield to holders "directly or indirectly" — wording the C.D. Howe Institute flags as stricter than the US GENIUS Act, broad enough to capture activity-based rewards. When Kraken began paying QCAD rewards (up to 2% APY) on June 5, 2026, it routed them as exchange-side rewards rather than issuer yield — but the legal exposure is unresolved. The competitive risk: CAD stablecoins may be unable to match USD instruments that pay holders. See the scorecard flag →
Ecosystem signal The use-case layer is activating too: YouSend, a stablecoin-settled remittance app with a FINTRAC MSB registration, went live in Canada on June 2, 2026 after a $1M beta — moving money to Africa's diaspora corridors in seconds.
Every requirement in Canada's Stablecoin Act (Part 4 of Bill C-15), mapped against publicly verifiable evidence from three issuers: Stablecorp (QCAD), Tetra Digital Group (CADD), and Loon (CADC). Categories span registration, reserves, redemption, governance, technology, reporting, and recovery.
Demonstrated — met with public evidence (attestation, filing, custody agreement). In Progress — steps taken but formal disclosure not yet public. Pending — requirement exists in law but implementing regulations not yet published.
Stablecorp press releases and attestation reports. Tetra Digital announcements and Senate Banking Committee brief. Loon (Paytrie) filings. VersaBank custody announcements. CSA filings via SEDAR+. Department of Finance Canada. Analyses from Torys LLP, Stikeman Elliott, Fasken, and DLA Piper.
Independent compliance intelligence built by the team behind StablecoinAtlas.com — the cartography of compliance. Focused exclusively on the Canadian stablecoin ecosystem.