BVCI Launches Second Stablecoin, This Time USD-Pegged CUSD

Blockchain Venture Capital Inc., a blockchain research firm in Canada, announces new USD-pegged stablecoin CUSD just four months after releasing CADT, which is pegged to Canada's fiat currency.

On Monday, November 11, a Canadian blockchain firm, Blockchain Venture Capital Inc. (BVCI), announced the launch of their second stablecoin. It is called CUSD and it is pegged against the US dollar. As per the press release, the stablecoin is designed with the hope that it will be used globally, more specifically for Canadian and American cross border trades.

BVCI was incorporated based on laws in Ontario and is widely known for its focus on blockchain research and development. It currently has a public decentralized blockchain (BVC-Chain) that supposedly combines both Ripple and Ethereum blockchains. They’ve also established BvcPay, a mobile app that serves as a digital asset wallet.

As for the CUSD, it is pegged with a 1 to 1 ratio, which means that 1 CUSD can be purchased with 1 USD. This can be achieved through the BvcPay app, which is compatible with both iOS and Android devices.

Compliance

BVCI complies by all federal regulations, notes the press release, adding that the necessary measures are taken to ensure established transactions abide by Canadian law.

Moreover:

“BVCI is regulated in Canada by FINTRAC as a money service business […] BVCI is on track to deliver more fintech products to facilitate and promote individuals and businesses with fast, secure, convenient channels and credit ecology.”

CUSD comes four months after the launch of CADT, another Canadian stablecoin that was launched this year on Canada day. CADT is pegged on a 1 to 1 ratio with the Canadian Dollar and was also created for both businesses and individuals.

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Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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