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**#Coinsquare #StableCoin #cryptocurrency #canada**
**Canadian cryptocurrency trading floor Coinsquare will release stablecoin**
Coinsquare, a Canadian cryptocurrency trading floor, announced on March 8 that it will release a stablecoin called "Canadex". The stablecoin is pegged to the Canadian dollar and will be available on Coinsquare's platform in Q2 2023.
Canadex will be issued by Coinsquare's wholly-owned subsidiary, Coinsquare Capital Markets. The stablecoin will be backed by Canadian dollars held in trust by a third-party custodian.
Coinsquare said that Canadex will be used to facilitate trading between cryptocurrencies and fiat currencies, as well as to provide a more stable investment option for cryptocurrency investors.
The company also said that Canadex will be subject to the same regulatory oversight as other financial products offered by Coinsquare.
"The launch of Canadex is a significant milestone for Coinsquare and for the Canadian cryptocurrency ecosystem," said Barry Schwartz, CEO of Coinsquare. "We believe that Canadex will play a valuable role in helping to grow the Canadian cryptocurrency market and provide investors with a more stable and secure way to participate in the digital asset economy."
Canadex is the latest in a series of stablecoin announcements from major cryptocurrency companies. In recent months, Facebook, Coinbase, and Binance have all announced plans to launch their own stablecoins.
The launch of stablecoins is seen as a way to address the volatility of the cryptocurrency market. Stablecoins are pegged to a fiat currency, such as the US dollar or the euro, and are designed to provide a more stable investment option for cryptocurrency investors.
The launch of Canadex is a sign that the Canadian cryptocurrency market is maturing. The stablecoin is expected to play a valuable role in helping to grow the Canadian cryptocurrency ecosystem and provide investors with a more stable and secure way to participate in the digital asset economy.
**References**
* [Coinsquare Announces Plans to Launch Canadian Dollar-Pegged Stablecoin](https://www.coinsquare.com/press-releases/coinsquare-announces-plans-to-launch-canadian-dollar-pegged-stablecoin/)
* [Facebook, Coinbase, and Binance All Announce Plans to Launch Stablecoins](https://www.forbes.com/sites/billybambrough/2022/03/08/facebook-coinbase-and-binance-all-announce-plans-to-launch-stablecoins/?sh=4463255453e4)
**Canadian cryptocurrency trading floor Coinsquare will release stablecoin**
Coinsquare, a Canadian cryptocurrency trading floor, announced on March 8 that it will release a stablecoin called "Canadex". The stablecoin is pegged to the Canadian dollar and will be available on Coinsquare's platform in Q2 2023.
Canadex will be issued by Coinsquare's wholly-owned subsidiary, Coinsquare Capital Markets. The stablecoin will be backed by Canadian dollars held in trust by a third-party custodian.
Coinsquare said that Canadex will be used to facilitate trading between cryptocurrencies and fiat currencies, as well as to provide a more stable investment option for cryptocurrency investors.
The company also said that Canadex will be subject to the same regulatory oversight as other financial products offered by Coinsquare.
"The launch of Canadex is a significant milestone for Coinsquare and for the Canadian cryptocurrency ecosystem," said Barry Schwartz, CEO of Coinsquare. "We believe that Canadex will play a valuable role in helping to grow the Canadian cryptocurrency market and provide investors with a more stable and secure way to participate in the digital asset economy."
Canadex is the latest in a series of stablecoin announcements from major cryptocurrency companies. In recent months, Facebook, Coinbase, and Binance have all announced plans to launch their own stablecoins.
The launch of stablecoins is seen as a way to address the volatility of the cryptocurrency market. Stablecoins are pegged to a fiat currency, such as the US dollar or the euro, and are designed to provide a more stable investment option for cryptocurrency investors.
The launch of Canadex is a sign that the Canadian cryptocurrency market is maturing. The stablecoin is expected to play a valuable role in helping to grow the Canadian cryptocurrency ecosystem and provide investors with a more stable and secure way to participate in the digital asset economy.
**References**
* [Coinsquare Announces Plans to Launch Canadian Dollar-Pegged Stablecoin](https://www.coinsquare.com/press-releases/coinsquare-announces-plans-to-launch-canadian-dollar-pegged-stablecoin/)
* [Facebook, Coinbase, and Binance All Announce Plans to Launch Stablecoins](https://www.forbes.com/sites/billybambrough/2022/03/08/facebook-coinbase-and-binance-all-announce-plans-to-launch-stablecoins/?sh=4463255453e4)
