Not only are stablecoins a leading use case driving crypto adoption around the world, but they’re a great medium for onramping funds onchain. For users located in the USA, the ability to move dollars onchain for free via Coinbase’s L2 is a killer feature. Why would you onramp any other way?

Unfortunately, in Canada users don't have the luxury of onramping for free just yet, and that’s partially because no one has been able to bootstrap the adoption of a Canadian dollar-denominated stablecoin. While Stablecorp has tried (twice?) to launch QCAD, I imagine they don’t have the right distribution channels in place to get through the “cold start” phase. But what if Coinabse were to try?

By enabling Canadians to onramp by swapping their fiat for a stablecoin at no cost, Coinbase would surely capture market share from some of the country’s other leading competitors. Personally, this is a feature that I’d leave Newton for.

Don’t get me wrong. While grappling with Canada's regulatory landscape will be challenging, I believe that if anyone can successfully navigate it, it's Coinbase.