Tetra Trust Company, a Canadian financial services and digital technology provider, has launched CADD, a stablecoin pegged to the Canadian dollar, approved by the Alberta Treasury Board and Finance. As the first CAD-pegged stablecoin issued by a regulated Canadian financial institution, CADD's reserves are held in trust under Canadian law for redemption purposes.
The token is currently available on major blockchains such as Base, Ethereum, and Tempo, with planned support for Solana. Tetra Trust raised $10 million in funding for the project in September 2025, with backing from prominent investors including Shopify, Wealthsimple, and the National Bank of Canada. The consortium also supports the launch of CADD.
In December, Tetra successfully 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 cases, including 24/7 cross-border settlements, real-time corporate treasury transfers, and direct fintech-to-fintech settlements, eliminating the delays associated with traditional correspondent banking.
The stablecoin sector has experienced exponential growth in recent years, with a current market capitalization of $320 billion. Canada processes approximately $424 billion per business day using legacy batch infrastructure, highlighting the need for a regulated, domestic stablecoin solution. With the launch of CADD, Canadian businesses can now utilize a meaningful, regulated stablecoin for moving CAD on blockchains, reducing reliance on USD-denominated stablecoins. The competitive landscape in Canada is relatively small, with Stablecorp and Loon being notable players in the stablecoin market.
Tetra Trust, as Canada's first regulated digital asset custodian, provides custody services for the country's first staking-enabled ether and solana ETFs, further solidifying its position in the digital asset space.