Only 4 months after the launch of the CADT stablecoin last Canada Day, BVCI has officially launched another stablecoin, “CUSD”. With the value anchored to the US dollar, the CUSD stablecoin is expected to be used globally, by both individuals and businesses alike, especially for Canada and America cross border trades.
CUSD, like its forerunner CADT, is developed exclusively by Blockchain Venture Capital Inc. (“BVCI”), a Canadian company incorporated according to the laws of Ontario. BVCI specializes in blockchain research and development. BVCI has developed a public, decentralized blockchain (BVC-Chain) that combines the Ripple and Ethereum blockchains. BVCI has also developed BvcPay, a mobile application that also functions as a digital asset wallet, blockchain explorer, and over-the-counter trading and decentralized exchange platform. Through BvcPay, users can purchase one CUSD with one USD then transfer CUSD into their digital wallet. Users can also transfer their CUSD from their own digital wallet to the BVC-wallet in exchange for an equivalent amount of USD. BvcPay is currently available on the Apple Store and other platforms.
CUSD facilitates cashless transactions with the pledged value of USD deposited into an Escrow Account with a US-based financial institution. With superior blockchain technology, BVCI can reconcile CUSD and USD on a real-time basis. People and businesses can enjoy secure and fast convenience without the drawbacks of using cash or expensive third-party intermediaries.
BVCI complies with all federal regulations which govern the transmission of virtual currency and works with its institutional financial partners to ensure all transactions remain compliant with Canadian law. BVCI is regulated in Canada by FINTRAC as a money service business. With professional relationships forged with both US and Canadian financial institutions, BVCI is on track to deliver more fintech products to facilitate and promote individuals and businesses with fast, secure, convenient channels and credit ecology.
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