2026-07-30 Scorecard
Timeline correction: BoC signals 2027 slip
- Added a scope note to the methodology: the Stablecoin Act is currency-agnostic. Per Finance Canada it reaches domestic and foreign issuers making fiat-backed stablecoins available to Canadians, and does not distinguish CAD from foreign-currency coins — so USDC and USDT are in scope alongside the three CAD issuers we track.
- Strengthened two CADD rows from a July 28 interview with Tetra founder/CEO Didier Lavallée. REG-1: Tetra intends to move from its Alberta provincial structure to the federal regime once it opens, and considers itself "well positioned" — logged as stated intent, not a filing. TECH-2: the per-chain rationale behind the three-chain launch (Ethereum as "the blockchain of record", Base for cost and speed, Tempo for payments).
- Reframed the programmable-layer section: Canada is ~nine years into the RTR project and remains the only G7 country without a live national real-time rail. Issuers position stablecoins as complementary to it, not competing — cross-border, remittances and programmability stay unsolved even with modern domestic rails.
- Added CIRO's Digital Asset Custody Framework (Feb 3) to the timeline — a four-tier custody regime for dealer members running crypto trading platforms, capping self-custody at 20% of client crypto. It governs the platforms distributing QCAD, CADD and CADC rather than issuer reserves, so it sits alongside the Act rather than inside it.
- Corrected the regulatory timeline. We had been carrying a "consultation period opens June 1" milestone that never happened — removed. In its place: Bank of Canada Senior Deputy Governor Carolyn Rogers told the Senate (May 6) that stablecoin rules are more likely to arrive in mid or late 2027, calling an early-2027 launch "ambitious." Pushed the expected BoC registration opening from June to September 2027 and reworded the Feb 2027 in-force milestone to read as the legal floor it is, not a forecast.
- Added two milestones we had missed: Visa Canada × Wealthsimple's USDC settlement pilot (May 6 — the first Visa stablecoin settlement rail in Canada), and the July 21 Blockchain Futurist panel where the CSE, Shakepay, and others pressed Ottawa for clear registration timelines.
- Fixed a bug that froze the timeline's past/future styling to June 9, which had been rendering the July 15 TD custody milestone as an unreached future event.
- Supply refresh (Jul 30): QCAD 1.65M and CADC 2.37M both flat to the token; CADD 1.19M (Base +5.9K). Total CAD tracked $5.21M. A quiet week onchain.
2026-07-23 Scorecard
TD becomes QCAD custodian; July supply refresh
- QCAD lands a Big Five bank: Stablecorp named TD Bank Group primary custodian for QCAD Digital Trust reserves (July 15) — one of the first major Canadian banks to custody a fiat-backed stablecoin's reserves, with a phased rollout across Q3–Q4 2026. Strengthens the Qualified Custodian (RES-2) evidence; VersaBank/VersaVault remains the earlier arrangement.
- Supply refresh (verified onchain, Jul 23): QCAD 1.65M (+200K MoM, at par ~$1.00 CAD — growth on Algorand/Stellar/Base while the ETH portion held at 74.8K), CADD 1.18M (ETH 541K + Base 641K, +49K), CADC flat at 2.37M. Total CAD tracked rises to $5.20M.
- Regulatory timeline: Payments Canada's Real-Time Rail by-law and rules come into force Aug 24, 2026, with go-live now targeted for Q4 2026 (slipped from Q3). Stablecoin Act implementing regulations remain pending.
2026-06-25 Data
Supply refresh — June 25 onchain readings
- Refreshed the market tracker with verified June 25 figures (Blockscout total supply): CADD 1.13M (ETH 522,676 + Base 610,150, +2K since Jun 10), CADC 2.37M (ETH 853,857 + Base 1,513,491, +20K on Base). QCAD held flat at 1.45M (CoinGecko all-chain circulating).
- Total CAD tracked rises to $4.95M. No regulatory changes this cycle — draft regulations under the Stablecoin Act remain pending (consultation expected later in 2026).
2026-06-10 Feature
Market tracker, changelog, new hero
- Added the CAD stablecoin market tracker — supply sparklines for QCAD, CADD, and CADC with per-point provenance. June 10 figures verified onchain via Blockscout (QCAD 1.45M aggregate, CADD 1.13M ETH+Base, CADC 2.35M ETH+Base).
- Introduced this changelog and the day-counter strip on the homepage.
- New hero copy; retired the single-event news strip.
2026-06-05 Scorecard
Yield-prohibition watch: Kraken QCAD rewards
- Flagged Kraken's QCAD rewards (up to 2% APY, routed exchange-side) against the Act's ban on paying yield "directly or indirectly".
- Added C.D. Howe Institute comparison to the US GENIUS Act wording.
2026-05-25 Feature
FX Cost Calculator and programmable-layer map
- Shipped the USDC-vs-CAD-native FX cost calculator with round-trip spread modelling.
- Added the RTR × stablecoin layer map: core ledgers, instant retail, programmable layer.
2026-05-21 Data
QCAD on Circle StableFX (Arc testnet)
- Added cross-border section: QCAD/USDC as the first onchain CAD/USD settlement pair — PvP atomic, T+0.
- Updated QCAD chain coverage to include Arc (testnet).
2026-05-05 Scorecard
Three-issuer expansion
- Expanded coverage from QCAD-only to three issuers following CADD's May 4 public launch.
- Added CADC (Loon, ex-Paytrie) rows and the issuer comparison page.
- Scorecard now tracks 15 requirements across 8 categories.
2026-04-22 Launch
StableLoonie launches
- Bill C-15 Compliance Scorecard goes live, tracking QCAD against the Stablecoin Act (Royal Assent March 26, 2026).
- Regulatory timeline from Royal Assent to earliest in-force (February 2027).