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. This stablecoin is the first of its kind to be issued by a regulated financial institution in Canada, with reserves held in trust under Canadian law for redemption purposes. CADD is currently live on major blockchains including Base, Ethereum, and Tempo, with plans to add support for Solana. Tetra Trust raised $10 million in funding for the project in September 2025, backed by prominent investors such as Shopify, Wealthsimple, and the National Bank of Canada.
The company conducted a successful testnet transaction between Wealthsimple and National Bank in December, marking the first instance of a Canadian stablecoin being transferred between two financial institutions. Tetra Trust positions CADD as a solution for institutional use cases, including 24/7 cross-border settlements, real-time corporate treasury transfers, and direct fintech-to-fintech settlements, thereby eliminating the delays associated with traditional correspondent banking. The stablecoin market has experienced exponential growth in recent years, with a current market cap of $320 billion and a transaction volume exceeding $27 trillion in 2025.
Canada, in particular, processes approximately $424 billion per business day using legacy infrastructure, highlighting the need for a regulated and domestic stablecoin solution. With the launch of CADD, Tetra Trust aims to fill this gap and provide a reliable and efficient means for Canadian businesses to move CAD on blockchains.