Loon clears key regulatory hurdle to offer Canadian dollar-backed stablecoin

Calgary-based FinTech startup Loon has secured the green light from domestic securities regulators to issue its Canadian dollar-backed CADC stablecoin in Canada. Loon announced on Tuesday that its newly established CADC Reserve Trust has received receipt for its final prospectus from the Ontario Securities Commission (OSC), giving it exemptive relief to offer the blockchain-based token. Paytrie, the Calgary company that originally created CADC—and from which Loon spun out of last year—has also b