QCAD adds TD Bank as reserve custodian to boost Canadian stablecoin adoption

A Canadian dollar stablecoin just landed one of the country’s largest banks as its reserve custodian.

Stablecorp Digital Currencies Inc. announced on July 15 that TD Bank Group will serve as the primary custodian for the fiat reserves backing QCAD, a 1:1 Canadian dollar-pegged stablecoin issued by the QCAD Digital Trust. The custody relationship will be phased in over Q3 and Q4 of 2026.

Why TD Bank matters here

TD is a Schedule 1 bank in Canada, which is the regulatory designation for the country’s most heavily supervised domestic banks. When a stablecoin issuer can say its reserves are held at a Schedule 1 institution, it sends a specific message to institutional investors, regulators, and potential partners: the money is where it says it is, and a serious entity is watching over it.

Jean Desgagné, Chair of Stablecorp, framed the partnership as a transition from the experimental phase to what he described as a roll-out phase.

James Salem, an Executive Vice President at TD, noted that digital assets are reshaping how value is stored and transferred.

QCAD’s regulatory head start

QCAD received its final prospectus receipt in November 2025, making it Canada’s first fully compliant CAD stablecoin. The prospectus receipt means QCAD has been vetted by Canadian securities regulators and is authorized to be offered to the public. QCAD’s compliance followed extensive engagement with the Canadian Securities Administrators, with full reserves held at regulated institutions and rigorous monthly attestations enforced to meet Canada’s prudential standards for crypto assets.

With TD Bank now joining previous custodians Tetra Trust Company and VersaBank, the infrastructure backing QCAD reflects a multi-faceted approach to integrating traditional financial practices with digital asset management.