DeFi Technologies Announces Venture Portfolio Company Stablecorp's Selection of VersaBank as Custodian for QCAD Digital Trust, Advancing Canada's First Compliant CAD Stablecoin

Executive Summary

• DeFi Technologies’ venture portfolio company Stablecorp has entered into a definitive agreement with VersaBank, which will serve as custodian for the QCAD Digital Trust – Canada’s first regulatory‑compliant CAD stablecoin.
• The custody relationship adds federally regulated Schedule I bank oversight, providing institutional‑grade security and a new revenue stream (custody fees + spread) for VersaBank and strengthening the infrastructure supporting QCAD adoption.
• DeFi Technologies views the agreement as a validation of its Stablecorp investment and a catalyst to expand QCAD‑linked products, deepen liquidity, and accelerate broader market acceptance.

Key Details

• Parties Involved: Stablecorp (Canada Stablecorp Inc.) – venture portfolio company of DeFi Technologies; VersaBank – federally chartered Schedule I bank in Canada and the U.S.
• Agreement Scope: VersaBank will provide custody services for the QCAD Digital Trust using its proprietary “VersaVault” solution, holding reserve assets that back the QCAD stablecoin.
• Revenue Model for VersaBank: Earns a fee based on the value of QCAD assets under custody and captures a spread on QCAD deposits.
• Strategic Impact for DeFi Technologies:
• Reinforces its venture strategy of backing “category‑defining” digital asset infrastructure.
• Supports plans to scale QCAD across product development (e.g., CAD‑linked ETPs, structured solutions), liquidity provision, and security/future‑proofing as volumes grow.
• Regulatory Significance: Custody by a federally regulated bank adds an additional layer of operational and regulatory confidence, facilitating deeper institutional adoption of tokenized Canadian dollars.
• Quotes:
• Kesem Frank (CEO, Stablecorp) – highlights the milestone for modernizing Canada’s financial infrastructure.
• Johan Wattenström (CEO & Executive Chairman, DeFi Technologies) – emphasizes the importance of regulated custody for stablecoin scaling.
• Andrew Forson (President, DeFI Technologies) – notes that strong custody frameworks will drive institutional comfort and next‑phase growth.
• Future Outlook: DeFi Technologies and Stablecorp intend to continue expanding QCAD’s ecosystem through three core pillars: product integration, market access/liquidity, and security infrastructure.

Notable Quotes

“Securing this custodial relationship with a federally regulated, Schedule I bank is a significant milestone for our industry…” – Kesem Frank, CEO, Stablecorp
“QCAD's approval as Canada's first compliant CAD stablecoin was a defining milestone… the selection of a federally regulated Schedule I bank as custodian is another important step…” – Johan Wattenström, CEO & Executive Chairman, DeFi Technologies
“Stablecoins will increasingly be judged not only by their utility, but by the strength of the operating and custody frameworks behind them.” – Andrew Forson, President, DeFi Technologies