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Crypto
Deloitte Canada partners with Stablecorp to build stablecoin infrastructure for Canadian financial sector
Deloitte Canada is partnering with Stablecorp to build stablecoin infrastructure for Canadian financial institutions, Cointelegraph reported on March 23. The project focuses on integrating Stablecorp’s Canadian dollar-pegged stablecoin, QCAD, into payment and settlement systems. Deloitte Canada partner Sumit Chatterjee said the aim is to help banks and financial institutions adopt stablecoins once a regulatory framework is in place.
AI & Enterprise
Tech firms cut jobs on AI productivity; Oracle signals major restructuring
Oracle is preparing to carry out job cuts over the coming months, Bloomberg News and the Financial Times reported on March 12. AI is boosting workplace efficiency, while firms are also seeking funds for high-cost data-centre investments. Oracle disclosed it added $500 million to restructuring costs, taking its fiscal-year total to $2.1 billion. RBC analyst Rishi Jaluria said the increase suggests planned workforce reductions. Oracle also pointed to AI coding tools as enabling fewer developers.
Crypto
Bank of Canada runs tokenised bond issuance pilot
A Bank of Canada-led Project Samara pilot has issued its first tokenised bond, Cointelegraph reported on Thursday. The test involved Export Development Canada, Royal Bank of Canada and TD Bank Group to assess whether distributed ledger technology can improve the efficiency of bond issuance, trading and settlement. Export Development Canada issued a C$100 million short-term bond traded by a closed group of investors on a Hyperledger Fabric-based platform.