Canadian digital technology and financial services provider Tetra Trust Company has launched CADD, a Canadian dollar stablecoin approved by Alberta’s Finance Commission and Ministry of Finance.
The company stated that this is Canada’s first Canadian dollar-pegged stablecoin issued by a regulated financial institution. According to the company, reserves are held in trust under Canadian law and are dedicated solely to redemptions. The token has been launched on major blockchains including Base, Ethereum, and Tempo, with plans to support Solana.
Headquartered in Calgary, Alberta, Canada, Tetra raised $10 million for the project in September 2025. The project is supported by Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Urbana Corporation, with Urbana Corporation holding a majority stake. The same consortium also supports the project’s launch.
In December last year, Tetra conducted a testnet transaction between Wealthsimple and the National Bank of Canada. The company stated that this was the first transfer of a Canadian stablecoin between two financial institutions in Canada.
Tetra positions CADD for institutional use cases, including 24/7 cross-border settlement, real-time corporate fund transfers, programmable market payments, and direct settlement between fintech companies without intermediary bank delays.
A $320 billion market
This launch is not surprising, as the stablecoin industry has experienced exponential growth in recent years but has lacked a meaningful, regulated Canadian equivalent.
The company stated that Canada clears approximately $424 billion daily through traditional channels that still rely on batch processing infrastructure first deployed in the 1980s. While the United States is advancing the stablecoin industry through regulatory support, Canadian businesses have lacked domestic options to transfer Canadian dollars on blockchain, leading to dominance by USD-denominated stablecoins.
Global stablecoin trading volume is projected to exceed $27 trillion by 2025, surpassing Visa’s annual payment volume. The current market capitalization of stablecoins stands at $320 billion, with USD-backed stablecoins accounting for the vast majority.DeFiLlama
Meanwhile, the domestic competitive landscape is smaller.
Stablecorp, backed by Coinbase Ventures, submitted the preliminary prospectus for QCAD to the Ontario Securities Commission in June last year and received final approval in December. The token has not yet been widely issued.
Another Calgary-based company called Loon, which spun off from Paytrie in October, is taking over CADC, a stablecoin launched in 2021 that has processed 2 million transactions previously. Over $200 million in sales Loon raised $3 million ahead of its seed round and filed a preliminary prospectus with the Alberta Securities Commission.
Tetra Trust is Canada’s first regulated digital asset custodian, providing custody services for the country’s first staked Ethereum and Solana ETFs.