The companies did not immediately respond when asked what the terms of the deal were and whether Toronto-based DeFi Technologies’ investment is part of a $5 million funding round for Stablecorp announced Wednesday. DeFi Technologies will help Stablecorp develop products for its QCAD stablecoin, a crypto asset pegged to the value of the Canadian dollar, and facilitate the buying and selling of QCAD. (The Logic)

Talking point: The deal is a convergence of two major crypto trends—stablecoins and treasury companies, or publicly traded firms that put crypto on their balance sheets. Stablecorp is among the growing number of Canadian companies rushing to take advantage of an increasingly friendly regulatory environment. DeFi Technologies added the crypto asset Solana to its treasury in July last year and is now the largest institutional asset manager of Solana in North America through its subsidiary Valour. In May, Stablecorp raised US$1.8 million from investors including Coinbase Ventures.

Editor’s note: This briefing has been updated to clarify that DeFi Technologies is a digital asset management business that also holds crypto on its balance sheet.