Blockchain
BVCI Launched the first commercial bank backed Canadian Digital Currency – CADT, with Support from Concentra Trust
Blockchain Venture Capital Inc. (BVCI) is excited to announce the launch of CADT, a new digital currency in Canada, with the support of custodial services from Concentra Trust.
Leveraging BVCI’s proprietary blockchain technology, CADT is a stable currency anchored to the Canadian dollar. CADT is distinct from the cryptocurrency, stable currency and centralized micropayment options currently available, in that users can exchange and redeem CADT into Canadian dollars, and vice versa. CADT incorporates many of the advantages offered by traditional payment options, including currency stabilization, payment, clearing and settlement features.
Users can access this contactless payment platform through the BvcPay mobile App, available for Apple and Android. The App functions as a decentralized digital asset wallet, serves as a blockchain explorer, and supports the ability to exchange CADT into Canadian Dollars by linking to bank accounts. It can also facilitate interchange with other digital currencies.
BVCI has established partnership with a few consultants and industry leaders who will bring large clients in various sectors. BVCI also reached cooperation agreements with food delivery platforms, film, television production and media companies, in the process of negotiating with conventional POS processing companies, real estate developers, large retailers and shopping malls, trade unions, and charitable organizations.
“Concentra Trust is excited to support BVCI with our custodial expertise to bring CADT to market,” said Martha Moen, Head of Concentra Trust. “With the launch of a constant-value, safe, stable, traceable digital payment option, BVCI is enabling Canadians to transfer and transact with digital assets, whether they make small day-to-day purchases or larger transactions, such as paying for coffee or a real estate down payment.”
- 100% Asset-Backed: Each CADT is backed by a Canadian dollar held in custody by Concentra Trust.
- Transparency: All CADT issued and corresponding Canadian dollars are reconciled and published daily.
- Secure and Trusted: BVCI is a financial services company incorporated in Ontario and supported by industry-leading advisors who have extensive digital asset brokerage experience.
- Real-Time: Clients are able to use BvcPay App to submit digital transactions 24/7/365, with our technology of processing thousands of transactions per second.
- Low fees: BvcPay offers 0 fee for wallet to wallet transactions, and much lower clearing fees than other payment systems.
“Likewise, a bank may use stable currencies to facilitate payment transactions for customers on an INVN, including by issuing a stable currency, and exchanging that stable currency for fiat currency. In this context, stable currencies function as a mechanism of payment, in the same way that debit cards, checks, and electronically stored value (ESV) systems convey payment instructions. Banks have long used cashiers’ checks, traveller’s’ checks, and other bearer instruments as a means of facilitating cashless payments.” said in Interpretive Letter 1174 from OCC Chief Counsel’s Interpretation on National Bank and Federal Savings Association Authority to Use Independent Node Verification Networks and stable currencys for Payment Activities on Jan 4th, 2021.
Blockchain
Oxbridge Re Reports Update on its RWA Tokenized Security, its Business and Third Quarter 2024 Results
Holds a reinsurance license and is regulated by the Cayman Islands Monetary Authority (CIMA).
Blockchain
SILEGX Exchange: The Rise of a Fintech Innovator
SILEGX Exchange
Blockchain
LAUD Announces Data-Driven Marketing Solutions to Empower Fintech Companies
-
Blockchain Press Releases7 days ago
Modern Lion and Hyundai Card Partner with NEAR Protocol to Revolutionize Concert Culture with Web3 Integration
-
Blockchain Press Releases6 days ago
Bybit and Block Scholes Uncover Post-Election Bullish Sentiment: Traders Lean Into Leveraged Longs Amid Stabilized Market
-
Blockchain7 days ago
Eric Trump to Speak at Bitcoin’s largest conference in Abu Dhabi this December
-
Blockchain Press Releases6 days ago
Canaan Upgraded Avalon Miner A15 Series with Superior Performance
-
Blockchain6 days ago
CertiK Co-Founder, Ronghui Gu, Delivers Keynote Speech at 2024 Singapore FinTech Festival
-
Blockchain7 days ago
PropW Announces Gold Sponsorship at WOW Summit Thailand
-
Blockchain7 days ago
Mauritius Financial Services Sector Report 2024: Competitive Environment, Local and International Influencing Factors, Industry Associations, Outlook, Industry Value Chain
-
Blockchain Press Releases6 days ago
Palapa Tap Tap Hero Game, Indonesia’s First Telegram-Based GameFi