VCAD is the world's first bank-issued digital deposit receipt issued by Versabank. Learn about VCAD in detail here.

VCAD is available on Ethereum, Stellar and Algorand. VCAD benefits from being minted and issued on the most popular networks while offering users tailored use cases on each chain. Continued support of VCAD on leading blockchains ensures users will benefit from low transaction fees, high transaction speeds, and continued interoperability with their preferred chain.  

VCAD is different from the traditional stablecoin model in that it is a digital representation of a deposit at an A-rated Canadian Schedule I Bank (VersaBank). 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 VCAD. Nor do you need to worry about whether it is “fiat backed” in some offshore jurisdiction beyond Canadian (or any) regulation, or whether the “fiat backing” will truly be there when you go to redeem it. A VCAD is a digital, secure, transferable bank deposit receipt facilitated by the blockchain. It has all the features of a cryptocurrency but addresses the two major shortcomings of the traditional cryptocurrency market – volatility and security. 

VCAD, powered by the Stablecoin 2.0 model, has been built by VersaBank and Stablecorp to address the concerns of the first iteration of stablecoins. The prevalent model carries immense risks to users due to a lack of transparency on what's backing the stablecoin itself. In addition, the known reserves of these stablecoins are offshore and outside of Canadian regulatory protection. To address this, VCAD is built and deployed with security features inherently part of its structure. VCAD is the world's first bank-issued and bank grade stablecoin therefore, VersaBank will treat each issuance of VCAD as a transferrable bank deposit. The stability of VCAD will be directly tied to the acceptance of deposits and issuance via VersaBank and its VersaVault function. Importantly the minting and burning of VCAD is completed with an explicit carve-out from the statutory definition of a "Security" as each VCAD is backed by an "evidence of a deposit issued by a bank listed as Schedule I, II, or III to the Bank Act (Canada)"  

The world's first digital deposit receipt as a stablecoin model will allow VCAD not to be subject to the registration requirements in the Securities act while preserving the compliance and securities under the Bank Act. VCAD will always maintain its stability as a bank-issued and bank-backed digital deposit receipt to represent a specific amount denominated in Canadian dollars. 

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VCAD is available for purchase on Grapes - www.grapesfinance.com.

In addition, VCAD tokens are available for sale through what we term "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 VCAD. VCAD will also be available through our network of Authorized Dealers.

Navigate to our partnership page to see a comprehensive list of all authorized dealers of VCAD. 

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Yes. When VCAD is purchased from an authorized dealer, it is a transferable digital asset able to be used by the user from their custodial wallets. Stablecorp or VersaBank, as the issuers of VCAD do not control the usage of the asset after distribution by an authorized dealer. VCAD is a Canadian dollar stablecoin intended for broad use cases among centralized and decentralized digital asset use cases. VCAD provides users with the peace of mind of its security, as a digital deposit receipt, and stability as the leading Canadian stablecoin backed by bank-grade blockchain technology. VCAD will provide a CAD stablecoin that is finally compliant, reliable and widely accessible.

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There is no fee to send or receive VCAD, other than the public blockchain network fee (primarily on Ethereum network). This fee is paid to the network, Stablecorp does not get a cut of your transaction fees.  

We only accept Authorized Dealer applicants who have passed our stringent client onboarding and AML/KYC checks. If you would like to discuss the process, please email info@stablecorp.ca to find out more. 

Grapes(13370046 Canada Inc.) is a subsidiary of Stablecorp Inc., a leading Canadian fintech firm that builds bank-grade technology. Grapes’ provides Canadian customers (individuals, businesses, merchants and other partners) with a non-custodial multi-chain bridge to quickly and at low cost purchase stablecoins. Grapes enables seamless access to the world of digital assets and blockchain technology. After successful onboarding to Grapes, Canadian users can begin swapping leading stablecoins (USDC, VCAD) for Canadian dollars in a highly compliant, secure and non-custodial manner. At launch Grapes will support Ethereum, Algorand and Stellar blockchains. Grapes Network will provide ecosystem partners, and merchants rapid access to onboard their fiat to VCAD and other stablecoins.  

Grapes is also the best place to start if you’re new to the crypto-ecosystem and want to learn more about digital assets! Navigate to Grapes Academy to learn about a wide range of beginner topics including stablecoins, layer 1 and layer 2 protocols, and how to securely store your digital assets.  

Learn more here: www.grapesfinance.com  

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Yield as a Service (YaaS) is a next-generation, bank-grade digital asset yield analytics and products platform. As a subsidiary of Stablecorp Inc, YaaS provides investors with compliant access to multi-currency, multi-chain CeFi and DeFi yield opportunities. YaaS provides a seamless connection to early-entrant yield opportunities in the crypto-asset space while maintaining bank-grade risk mitigation, collateralization and insurance.  

If you are an accredited investor looking to learn more about YaaS services - please email: info@stablecorp.ca. Stay tuned for more on YaaS Retail.  

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