Tetra Trust Company, a Canadian digital technology and financial services provider, has launched CADD, a Canadian-dollar pegged stablecoin approved by the Alberta Treasury Board and Finance. The company claims it is the first CAD-pegged stablecoin issued by a regulated financial institution in Canada, with reserves held in trust under Canadian law for redemption purposes. The token is currently live on major blockchains such as Base, Ethereum, and Tempo, with planned support for Solana. Tetra raised $10 million in September 2025 from a consortium including Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Urbana Corporation, which holds a majority stake.
In December, the company conducted testnet transactions between Wealthsimple and National Bank, marking the first time a Canadian stablecoin was transferred between two financial institutions. CADD is positioned for institutional use, including 24/7 cross-border settlements, real-time corporate treasury transfers, and direct fintech-to-fintech settlements. The launch addresses a significant gap in the Canadian market, where a regulated, meaningful stablecoin was lacking.
Canada processes approximately $424 billion per business day using legacy batch infrastructure, and the global stablecoin market has grown exponentially, reaching a transaction volume of $27 trillion in 2025 and a market cap of $320 billion. The competitive landscape in Canada is relatively small, with Stablecorp and Loon being notable players in the stablecoin space.