3iQ is leveraging Stablecorp's
Onboarding-as-a-Service and Embedded Digital Money solutions to
simplify access to its award-winning Global Crypto
Asset Fund and unlock a new suite of fully digital funds
TORONTO, June 6, 2023
/PRNewswire/ -- 3iQ and Stablecorp, leading global digital asset
financial services providers, today announced a collaboration to
fully digitize onboarding and on-ramping into 3iQ's award winning
Global Crypto Asset Fund ("QGCF"). This digitization,
powered by Stablecorp's Onboarding-as-a-Service ("OaaS") and
Embedded Digital Money solutions, will also allow 3iQ to offer a
new generation of fully digital funds for the first time. These
fully digital funds will be able to increase automation, global
scale and efficiency as well as unlock exponential innovation in
fund construction as compared to fund managers reliant on
traditional fiat rails.
The Stablecorp OaaS technology creates an intuitive, compliant
and secure digital flow for onboarding that is highly customized
for 3iQ's specific requirements as an Exempt Market Dealer in the
digital asset space. By leveraging this technology, 3iQ anticipates
being able to significantly reduce onboarding time for QGCF as well
as enhance and automate internal and external reporting and
monitoring.
Additionally, by leveraging the Embedded Digital Money
technology for future funds, 3iQ can seamlessly convert incoming
fiat subscriptions to digital money, such as USDC or Stablecorp's
QCAD, in a fully KYC'd environment. This significantly enhances
efficiency of subscriptions and redemptions as well as global asset
movement within funds, while simplifying reporting and opening
novel digitally native strategies.
"3iQ has built our business on being digital asset native,
including being the first regulated digital asset manager in
Canada, the global first major
exchange listed Bitcoin fund and the co-founders of
Stablecorp. 3iQ is excited to now partner further with Stablecorp
and use their technology to advance our mission of bringing
regulated digital assets around the world. We are launching this
with our existing funds like QGCF, but are extremely excited to
roll out completely new funds under this framework through 2023 and
beyond," said Fred Pye, CEO and
Chairman of 3iQ.
"Digital assets and digital money move extremely quickly, and
one of the challenges of using traditional fiat rails and
onboarding technology is that it adds unnecessary frictions to such
a revolutionary technology," said Alex
McDougall, CEO of Stablecorp. "Stablecorp has partnered with
3iQ to create a solution targeted explicitly at fully digitizing
the process from end to end all within one seamless user
experience. The future of fund management will be entirely digital,
and what 3iQ and Stablecorp have created is a key piece to
unlocking this."
3iQ's new digital onboarding experience for QGCF is accessible
to qualified investors on their website at www.3iq.ca. 3iQ and
Stablecorp anticipate continuing to roll out additional onboarding
experiences and fully digital funds throughout the remainder of
2023 and beyond.
About 3iQ
Founded in 2012, 3iQ Corp. (3iQ) is one of
Canada's leading digital asset
investment fund managers. 3iQ was the first Canadian investment
fund manager to offer a public bitcoin investment
fund, The Bitcoin Fund (TSX: QBTC) (TSX: QBTC.U), and
a public ether investment fund, The Ether Fund (TSX: QETH.UN) (TSX:
QETH.U). More recently, 3iQ launched the 3iQ Bitcoin
ETF (TSX: BTCQ) (TSX: BTCQ.U) and the 3iQ Ether ETF (TSX: ETHQ)
(TSX: ETHQ.U). 3iQ offers investors convenient and familiar
investment products to gain exposure to digital assets.
About Stablecorp
Stablecorp is a leading Canadian
fintech firm building digital money embedded solutions in the
payment, investment, supply chain finance, on-chain FX and digital
asset trading space. Through its Grapes Finance Portal and API
solutions, Stablecorp has created a suite of onboarding as a
service and embedded digital money solutions that power a variety
of financial use cases. For more information, visit
https://www.stablecorp.ca and
https://www.grapesfinance.com.
About QCAD
QCAD is a fully reserved digital Canadian
dollar (or stablecoin) issued by Stablecorp Digital
Currencies inc. QCAD is 1:1 backed with Cash and Cash equivalents
held by Tetra Trust Company, a Canadian Qualified Custodian at
Canadian Financial Institutions. The reserves are attested to
monthly by Professional Chartered Accounting Firm Grewal Guyatt
LLP. QCAD is available across the Ethereum
("ETH"), Algorand ("ALGO") and Stellar ("XLM")
blockchains. Monthly attestation reports can be found here.
Media Contact:
Stablecorp
Sarah
Ikalowych
stablecorp@kcdpr.com
910-448-0282
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SOURCE Stablecorp