Canada Stablecorp Inc. was founded by 3iQ, Canada’s largest cryptoasset manager, and Mavennet Systems, a leader in blockchain development. Stablecorp is a leading Canadian fintech firm building bank-grade blockchain technology. QCAD was Stablecorp's first product release and was the first ever major Canadian-dollar stablecoin designed for the mass market. In February 2021, Stablecorp entered into a strategic partnership with VersaBank, an A-rated Canadian Schedule I bank, to develop VCAD.