Canada’s 1st Legally-Delivered Stablecoin Launched by Blockchain Venture Capital

[cheezcarls]

Another day, another dollar-backed cryptocurrency stablecoin. This time, the Blockchain Venture Capital Inc. (BVCI) has launched CUSD — the first legally delivered USD-stablecoin in Canada.

The cryptocurrency is supplemented by a mobile wallet called Bvc Pay which is used to store, exchange, and trade CUSD over-the-counter (OTC).

Read more here

To all Canada-based cryptocurrency enthusiasts out there, I have a question for you. I know that there are lots of stablecoins in the market now such as Tether, Digital USD, USD Coin, Digital Gold, etc.

Do you honestly think that this brand new dollar-backed crypto stablecoin CUSD will have any difference and than the other existing stablecoins in the market? Maybe you guys could enlighten me and the others on how would CUSD have impact in the Canadian crypto market.

I would love to hear your thoughts about this one guys! Cheers!

[chaoscoinz]

Another day, another dollar-backed cryptocurrency stablecoin. This time, the Blockchain Venture Capital Inc. (BVCI) has launched CUSD — the first legally delivered USD-stablecoin in Canada.

The cryptocurrency is supplemented by a mobile wallet called Bvc Pay which is used to store, exchange, and trade CUSD over-the-counter (OTC).

Read more here

To all Canada-based cryptocurrency enthusiasts out there, I have a question for you. I know that there are lots of stablecoins in the market now such as Tether, Digital USD, USD Coin, Digital Gold, etc.

Do you honestly think that this brand new dollar-backed crypto stablecoin CUSD will have any difference and than the other existing stablecoins in the market? Maybe you guys could enlighten me and the others on how would CUSD have impact in the Canadian crypto market.

I would love to hear your thoughts about this one guys! Cheers!

Is this a legitimate project or not? As of late Canada has been put through the ringer by the (BCSC) British Columbia Securities Commission due to all the exit scams. The first exchange to go down for the count was QuadrigaCX, with its dead CEO that was found in India with no access to the passwords that control their customer accounts. It is believed to most likely be an elaborate exit scam that has taken place. Also, what of Einstein Exchange, it just suddenly shutdown out of the blue, completely disappearing? Now I'm supposed to trust this Stablecoin as if there weren't enough already?
 Is there any proof that this Stablecoin is backed by the Canadian government?

[CjMapope]

Its not backed by the gov lol, its more so they got PERMISSION to make it, which ya, really dosent mean much lol
Its too easy in crypto to "do things by the book" and still run a scam, as Crypto area is just totally grey still in Canada
In Canada: as long as you receive SOMETHING for your money, you werent scammed. So ya no thanks on this one from me (and im Canadian)
Will be funny to watch this implode tho

[avikz]

I thought Canada is not friendly with cryptos! Even in Wikipedia, it shows that Canadian banking ban for crypto related businesses is still in force! It's a bit skeptical to know that Canada has given license to operate a stable coin business!

I tried to search them through Google but it is redirecting me to Carbon USD website which is an US based company. Can anyone guve me the correct link of their website?

[davinchi]

I am not sure if this is just a rumor or it is actually through that the Canadian government has given their consent to the use of cryptocurrency because I think Canada has been one of the countries that has not been cryptocurrency friendly, so to say that they have a legalized stable coin is something that I am a little bit skeptical about, but same time, since it is stable coin, I would not doubt it.

Everyone knows that stable coins are still backed to their own currency, and in this way, their currency will still have the name and the value which they have been scared of the usually cryptocurrency taking away. They might also want to use this stable coin to take the attention of people away from the popular bitcoin so that people will use their own stable coin that they can have control over than the coin they cannot have any control over.

[bigcash2011]

It looks like the race to stabecoins is going to increase in coming months and years and i expect that every big company is going to come up with its own coin but still i will support this trend as it will be easier for people to buy btc and eth etc in exchange to their stablecoins.

[Pecunia non olet]

Why there are so many stablecoins? And what is the interest of a company that is creating stable coin?
I understand that if you create a successful coin that price goes to the moon, you earn, but stable coin is stable and you can´t earn on it, even you have to donate it because you need to invest into ecosystem and so on. 

[josephdd1]

After reading the article looks like even their first product (a USD stablecoin) has practically no users.

Does this company just pump out random stablecoins until something gains traction?

[jrrsparkles]

This is not a stable coin from government,its just got the name on it,so its just another stable coins and I feel coin should be avoided compared to USDC or USDT because we never knew that this coin is actually backed up by fiat value when it has not much of users for it.And definitely don't have any reason for people to pick this coin over other stable coin.

[tenakha]

I looked at the article, which was another stablecoin created by BVCI this year, and I could not find its name in CMC or anywhere else. Where are they used? Or is it just used internally?

This is not a stable coin from government,its just got the name on it,so its just another stable coins and I feel coin should be avoided compared to USDC or USDT because we never knew that this coin is actually backed up by fiat value when it has not much of users for it.And definitely don't have any reason for people to pick this coin over other stable coin.

I guess permission of the government was caused this kind of understanding.

[WalkerIVIV]

I looked at the article, which was another stablecoin created by BVCI this year, and I could not find its name in CMC or anywhere else. Where are they used? Or is it just used internally?

This is not a stable coin from government,its just got the name on it,so its just another stable coins and I feel coin should be avoided compared to USDC or USDT because we never knew that this coin is actually backed up by fiat value when it has not much of users for it.And definitely don't have any reason for people to pick this coin over other stable coin.

I guess permission of the government was caused this kind of understanding.

None use it and that's why you will not see that on CMC. It's another stable coin with no transparency and a few users only. They are not used anywhere and that's a failed stable coin for sure. They are only used on its own app that available in playstore and applestore.