The Globe and Mail reports in its Wednesday, May 6, edition that Power Corp. of Canada's Wealthsimple Financial and Visa Canada have experimented with using stablecoin to settle payments in Canada as Ottawa moves toward its own regulatory regime for the digital currency. The Globe's Stefanie Marotta writes that stablecoins are designed to maintain a stable value by being pegged to a fiat currency, like the United States dollar. Wealthsimple recently tested stablecoin settlement with Visa, enabling near-instant, 24/7, lower-fee transfers. Wealthsimple's Hanna Zaidi says: "We wanted to show that regulated financial institutions could transact using stablecoins while still honouring the controls and governance that uphold a secure financial system. There's a lot of skepticism and hesitation in the space, and so here is Visa and Wealthsimple engaging in this pilot, and it was successful for us. ... For us as a business, that kind of availability improves how quickly we can manage funding and liquidity across our platform." Currently, the settlement of payments and transfers between financial institutions can take several days and they are not processed after hours -- on evenings, weekends or holidays.