VersaBank Secures First QCAD Deposit Flows, Signals New Revenue Stream
VersaBank has initiated QCAD deposit flows under its custody services arrangement with Stablecorp, marking the first live revenue from its digital-asset strategy. QCAD’s listing on Kraken enables on-chain Canadian-dollar settlement, potentially boosting custody fees, tighter spreads and 24/7 market access for traders.
1. QCAD Deposit Flow Initiation
VersaBank began receiving QCAD deposits under its custody services agreement with Stablecorp, marking the first live deposit flows tied to its VersaVault digital-asset custody platform. This operational launch shifts the initiative from development to active service delivery as deposits commence.
2. Revenue Generation Prospects
Under the custody arrangement, VersaBank will earn fees and spread income on QCAD deposits, creating its first incremental revenue stream from the digital-asset unit. The bank projects these recurring fees will grow as deposit volumes increase.
3. Kraken Listing Advantages
With QCAD now listed on Kraken, users can trade and settle digital assets in Canadian dollars on-chain, offering tighter spreads, improved price discovery and round-the-clock market access. This integration provides a local-currency rail that bypasses traditional FX channels for global participants.