Tetra Trust Company, a Canadian fintech firm, has launched CADD, a stablecoin pegged to the Canadian dollar, approved by the Alberta Treasury Board and Finance. This marks the first CAD-pegged stablecoin issued by a regulated Canadian financial institution.
The reserves are held in trust under Canadian law, dedicated to redemption. CADD is currently live on major blockchains such as Base, Ethereum, and Tempo, with plans to support Solana. Tetra Trust raised $10 million in funding from prominent backers, including Shopify, Wealthsimple, and the National Bank of Canada, in September 2025.
The same consortium is supporting the launch of CADD. In a significant test, Tetra successfully conducted testnet transactions between Wealthsimple and National Bank in December, marking the first time a Canadian stablecoin was transferred between two financial institutions. CADD is positioned to serve institutional use cases, including 24/7 cross-border settlements, real-time corporate treasury transfers, and direct fintech-to-fintech settlements, bypassing the delays associated with traditional correspondent banking. The launch of CADD addresses a significant gap in the Canadian market, where a regulated, meaningful stablecoin was lacking.
Canada processes approximately $424 billion daily through legacy infrastructure, highlighting the need for modern, efficient solutions. The global stablecoin market has experienced exponential growth, with a current market capitalization of $320 billion. The competitive landscape in Canada is relatively small, with few domestic options available for businesses to move CAD on blockchains, leading to a dominance of USD-denominated stablecoins. Tetra Trust, as Canada's first regulated digital asset custodian, is well-positioned to provide custody services for the country's first staking-enabled ether and solana ETFs.