VERSABANK HAS BEGUN RECEIVING QCAD DEPOSITS UNDER STABLECOIN CUSTODY SERVICES AGREEMENT AND CONGRATULATES STABLECORP ON LISTING OF QCAD ON KRAKEN

VersaBank (TSX: VBNK) has begun receiving QCAD deposits under its custody services agreement with Stablecorp and congratulated Stablecorp on QCAD's listing on Kraken (April 20, 2026).

Rhea-AI Summary

VersaBank (TSX: VBNK) has begun receiving QCAD deposits under its custody services agreement with Stablecorp and congratulated Stablecorp on QCAD's listing on Kraken (April 20, 2026). The bank called this its first incremental income from its digital asset strategy and highlighted benefits of QCAD trading.

VersaBank said QCAD on Kraken enables Canadian Dollar on-chain settlements, deeper CAD liquidity, and 24/7 market access for institutional and retail clients.

Argus Apr 20 session

+9.89% close to close Open Argus

Details

News Market Reaction – VBNK

On Apr 20, the day this news came out, VBNK closed 9.89% above the previous close.

Data tracked by StockTitan Argus for the Apr 20 session.

Key Figures

Stablecoin market forecast: US$4 trillion Growth multiple: 20-fold increase 24/7 access: 24/7

Stablecoin market forecast

US$4 trillion

Forecast value of stablecoins in circulation within four years

Growth multiple

20-fold increase

Projected growth in stablecoins over the next four years

24/7 access

24/7

Continuous trading access for QCAD pairs on Kraken crypto markets

Previous Crypto Reports

1 past event · Latest: Feb 03

Same Type 1 event

1. Feb 03

   Crypto custody deal

   24h Move

   +1.3%

   Signed definitive custodial agreement to hold QCAD stablecoin using VersaVault.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stablecoin, digital asset, custody services, restricted dealer, +2 more

6 terms

stablecoin financial

"QCAD is Canada's first regulatory compliant Canadian-dollar stablecoin."

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

digital asset financial

"technology solutions for cybersecurity, today announced it has begun receiving QCAD deposits under its previously announced custody services agreement with Stablecorp, a pioneering Canadian digital asset infrastructure company"

A digital asset is a representation of value or rights that exists only in electronic form—like digital versions of cash, stocks, or collectibles kept in a virtual wallet. They are transferred and recorded using computer systems that make copying or tampering difficult, and can include currencies, tokenized shares, or unique digital items. Investors care because digital assets can offer new ways to diversify, trade and raise capital, but they also bring different risks around price swings, custody and regulation.

custody services financial

"begun receiving QCAD deposits under its previously announced custody services agreement with Stablecorp"

Custody services are the safekeeping, recordkeeping and transaction-handling of financial assets—such as stocks, bonds and cash—provided by a specialized firm acting like a secure vault plus an accountant for your investments. They matter to investors because they reduce the risk of loss or theft, ensure trades settle correctly, and manage administrative and regulatory tasks so owners can trust their assets are secure and accessible when they need liquidity or proof of ownership.

restricted dealer regulatory

"Kraken is a registered Restricted Dealer in Canada and one of the longest-standing crypto asset trading platforms globally."

A restricted dealer is a broker-dealer whose ability to buy, sell, or underwrite securities is limited by regulatory rules, contractual terms, or imposed sanctions. Think of it like a shop that has had part of its license suspended and can no longer offer all services; this matters to investors because it can reduce market access, lower liquidity, complicate trades or offerings, and signal compliance or legal risks that could affect price and execution.

crypto asset financial

"Kraken is a registered Restricted Dealer in Canada and one of the longest-standing crypto asset trading platforms globally."

A crypto asset is a digital token or coin secured by cryptography and recorded on a distributed ledger, like a blockchain; it can represent money, ownership, access rights, or digital collectibles. For investors, crypto assets matter because their prices can move rapidly, they may offer new ways to store value or raise capital, and they carry unique risks such as technical failures, regulatory changes, and low liquidity—think of them as digital versions of cash, stocks, or rare items combined.

fiat on/off-ramps financial

"one of the largest and most respected exchanges for digital assets, known for its security, transparency and low‑friction fiat on/off‑ramps."

Fiat on/off-ramps are the services that let money move between traditional government-backed currencies (like dollars or euros) and cryptocurrencies. Think of them as the bridges or doorways between a bank account and a crypto wallet; they determine how easily and cheaply an investor can buy, sell, or cash out digital assets. Ramp quality affects liquidity, transaction speed, fees, and regulatory or custody risks, all of which influence investment choices and timing.

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LONDON, ON, April 20, 2026 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK) ("VersaBank" or the "Bank") a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced it has begun receiving QCAD deposits under its previously announced custody services agreement with Stablecorp, a pioneering Canadian digital asset infrastructure company and servicer of the QCAD Digital Trust and whose investors include Coinbase, Circle, DeFi Technologies and FTP Ventures.  QCAD is Canada's first regulatory compliant Canadian-dollar stablecoin.

The Bank also congratulated Stablecorp on the listing of QCAD on Kraken.  Kraken is a registered Restricted Dealer in Canada and one of the longest-standing crypto asset trading platforms globally. Under this listing, QCAD will be available for trading on the Kraken crypto asset trading platform, facilitating the settlement of digital asset transactions in a Canadian Dollar-denominated instrument.

"The start of the flow of QCAD deposits is not only further validation of the market-readiness of our VersaVault® technology for the rapidly growing digital asset opportunity but also represent a significant milestone for the Bank as our first incremental income from our digital asset strategy," said David Taylor, Founder and President, VersaBank.  "We are very proud to be the custody provider for QCAD and congratulate Stablecorp on this listing of QCAD on Kraken, one of the largest and most respected exchanges for digital assets, known for its security, transparency and low‑friction fiat on/off‑ramps.  This is an incredible milestone for Stablecorp and we look forward to sharing in the expected rapid adoption of QCAD for many years to come."

The availability of QCAD on Kraken unlocks new opportunities for institutional clients and individual Canadian customers alike:

• Seamless Global Participation: Canadians can hold and move Canadian Dollar-denominated value on-chain, enabling easier access to global crypto markets without depending on legacy payment rails.
• Stronger Canadian Dollar Trading Experience: Deeper liquidity and improved Canadian Dollar-denominated trading pairs help deliver tighter spreads and better price discovery for major crypto assets like BTC, ETH, and USDC.
• 24/7 Access: Unlike traditional foreign exchange markets, crypto markets do not close. With QCAD trading pairs on Kraken, customers can manage exposure, deploy capital and respond to market conditions in real time.

Mr. Taylor continued, "The value of stablecoins in circulation is forecast to grow to as much as US$4 trillion¹ in the next four years – a 20-fold increase.  Licensed, regulated banks, as they have been for centuries, are the trusted, regulated safekeepers of deposits for individuals and businesses, and are ideally positioned to act in the same capacity.  As a federally regulated, national bank in both Canada and the United States, we believe we offer the ultimate value proposition for the custody of digital assets on both sides of the border."

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1 Citi Institute

ABOUT THE QCAD DIGITAL TRUST AND STABLECORP

The QCAD Digital Trust is an Ontario trust that holds the reserve assets on behalf of holders of QCAD. Stablecorp is one of Canada's leading digital asset infrastructure companies, focused on building professional-grade blockchain solutions. In partnership with industry leaders, Stablecorp creates refined, scalable and compliant products, such as QCAD, that serve as the foundation for the next generation of financial services. Further information about QCAD, including the reserve assets and the terms and conditions associated with the QCAD program, can be found on Stablecorp's website (www.stablecorp.ca) and under the Trust's profile on SEDAR+ at www.sedarplus.ca.

ABOUT KRAKEN

Founded in 2011, Kraken is one of the world's longest-standing crypto platforms globally. Kraken clients trade more than 600 digital assets, traditional assets such as U.S. futures and U.S.-listed stocks and ETFs, and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Trusted by millions of institutions, professional traders and consumers, Kraken is one of the fastest, most liquid and performant trading platforms available.

Kraken's suite of products and services includes the Kraken App, Kraken Pro, the Krak App, Kraken Institutional, Kraken's onchain offerings and the Ninja Trader retail trading platform. Across these offerings, clients can buy, sell, stake, earn rewards, send and receive assets, custody holdings, and access advanced trading, derivatives, and portfolio management tools.

Kraken has set the industry standard for transparency and client trust, and it was the first crypto platform to conduct Proof of Reserves. It complies with regulations and laws applicable to its business, while actively protecting client privacy and maintaining the highest security standards.

ABOUT VERSAVAULT^®

VersaVault^® is the world's first digital vault for security conscious organizations looking to secure their highly sensitive and confidential documents, data, code, blockchain-based assets and more, addressing the need for regulated custody of digital assets with secure platforms. VersaVault^® distinguishes itself as a SOC2 Type 1 audited, security-centric digital asset storage solution that utilizes military-grade hardware within a dedicated, private data center specifically designed for highly secure and sensitive operations and is logically air-gapped from both the public internet and public blockchains and not hosted on public cloud infrastructure. VersaVault^® implements robust security protocols, including stringent multi-factor authentication, robust identity checks, and mandatory, but adjustable, multi-party approvals authorization for users to securely manage and access their high value assets.

ABOUT VERSABANK

VersaBank is a North American bank with a difference. Federally chartered in both Canada and the U.S., VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity. In August 2024, VersaBank launched its unique Structured Receivable Program funding solution for point-of-sale finance companies, which has been highly successful in Canada for over 15 years, to the underserved multi-trillion-dollar U.S. market. VersaBank also owns Minnesota-based DRT Cyber Inc., a North American leader in the provision of cyber security services to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities. Through DRT Cyber Inc., VersaBank owns proprietary intellectual property and technology to enable the next generation of digital assets for the banking and financial community, including the Bank's revolutionary and proprietary Real Bank Tokenized Deposits^TM.

VersaBank's common shares trade on the Toronto Stock Exchange and NASDAQ under the symbol VBNK.

Visit our website at: www.versabank.com

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SOURCE VersaBank

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did VersaBank (VBNK) announce about QCAD deposits on April 20, 2026?

VersaBank confirmed it has begun receiving QCAD deposits under its custody agreement with Stablecorp. According to the company, this marks the start of deposit flows and represents the bank's first incremental income from its digital asset strategy.

How does the QCAD listing on Kraken affect VersaBank (VBNK) customers?

The Kraken listing makes QCAD tradable on a major exchange, improving access and liquidity. According to the company, this enables Canadian Dollar-denominated on-chain settlement and 24/7 trading opportunities for institutional and retail clients.

Does VersaBank (VBNK) expect revenue from providing custody for QCAD?

VersaBank indicated the QCAD custody arrangement provides its first incremental income from the digital asset strategy. According to the company, receiving QCAD deposits initiates revenue flows tied to its VersaVault custody services.

What are the stated market benefits of QCAD on Kraken for Canadian traders and institutions?

QCAD on Kraken offers CAD-denominated on-chain settlement, deeper liquidity, and tighter spreads. According to the company, these features aim to improve price discovery and simplify access to global crypto markets for Canadians.

Who is Stablecorp and what is its role in the QCAD-VersaBank arrangement?

Stablecorp is the digital asset infrastructure company and servicer of the QCAD Digital Trust that engaged VersaBank for custody services. According to the company, Stablecorp lists QCAD on exchanges while VersaBank provides regulated custody for deposits.

What strategic rationale did VersaBank (VBNK) give for offering custody for QCAD?

VersaBank said licensed banks are well positioned as trusted custodians for digital assets and that QCAD custody leverages its VersaVault technology. According to the company, this aligns with expected rapid adoption of stablecoins and cross-border custody demand.