Tetra Trust Company, a Canadian firm specializing in digital technology and financial services, has launched CADD, a stablecoin pegged to the Canadian dollar and approved by the Alberta Treasury Board and Finance. This CAD-pegged stablecoin is the first to be issued by a regulated financial institution in Canada, with reserves held in trust under Canadian law for redemption purposes. The token is currently available on major blockchains such as Base, Ethereum, and Tempo, with plans for Solana support.
Tetra raised $10 million in funding for the project in September 2025, backed by prominent investors including Shopify, Wealthsimple, and the National Bank of Canada. The company successfully conducted testnet transactions between Wealthsimple and National Bank in December, marking the first instance of a Canadian stablecoin being transferred between two financial institutions. Tetra positions CADD as an institutional-grade solution for 24/7 cross-border settlements, real-time corporate treasury transfers, and direct fintech-to-fintech transactions, eliminating the need for traditional correspondent banking. The stablecoin market has experienced exponential growth, with a current market capitalization of $320 billion.
Canada processes approximately $424 billion daily through legacy batch infrastructure, highlighting the need for a regulated, domestic stablecoin solution. The global stablecoin transaction volume surpassed $27 trillion in 2025, exceeding Visa's annual payment volume. With the launch of CADD, Tetra Trust aims to capitalize on this growing market, providing a competitive alternative to USD-denominated stablecoins.
The Canadian stablecoin landscape is relatively small, with few competitors, including Stablecorp's QCAD and Loon's CADC. As Canada's first regulated digital asset custodian, Tetra Trust is well-positioned to provide custody services for the country's first staking-enabled ether and solana ETFs.