VersaBank began receiving QCAD deposits under its custody agreement with Stablecorp on April 20 2026, creating the bank’s first incremental income stream from its digital‑asset strategy.
QCAD is Canada’s first regulatory‑compliant Canadian‑dollar stablecoin, pegged 1:1 to the CAD and backed by reserves held at regulated financial institutions. By providing custody for QCAD through its VersaVault technology, VersaBank positions itself as a regulated partner in a rapidly expanding stablecoin market.
The milestone monetizes VersaVault and signals progress in the bank’s broader digital‑asset push. It complements the strong Q1 2026 results, which saw record asset growth and a 36% year‑over‑year increase in adjusted EPS, underscoring the bank’s ability to generate new revenue streams while maintaining profitability.
The announcement was met with a positive market reaction, with analysts noting the move as a tailwind to VersaBank’s broader digital‑asset strategy and its potential to enhance the bank’s competitive positioning.
David Taylor, Founder and President, said the start of QCAD deposits validates VersaVault technology and represents a significant milestone for the bank as its first incremental income from its digital‑asset strategy. He also congratulated Stablecorp on its listing on Kraken.
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