Tetra Trust Company, a Canadian digital technology and financial services provider, has launched CADD, a Canadian dollar stablecoin approved by the Alberta Treasury Board and Department of Finance.
The company said this is the first Canadian dollar-pegged stablecoin issued by a Canadian regulated financial institution. According to the company, the reserve funds are held in trust under Canadian law and will be used for redemption. The token runs on major blockchains such as Base, Ethereum, and Tempo, with support for Solana also planned.
Calgary, Alberta-based Tetra raised $10 million for the project in September 2025 with support from Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and majority stakeholder Urbana Corporation. The consortium is also supporting the launch.
In December, Tetra executed a testnet transaction between Wealthsimple and National Bank. The company said this is the first time a Canadian stablecoin has been moved between two financial institutions.
Tetra has positioned CADD for institutional use cases such as 24/7 cross-border payments, real-time corporate treasury transfers, programmable marketplace payments, and direct fintech-to-fintech payments without the delays of correspondent banking.
$320 billion market
Although the stablecoin sector has grown rapidly in recent years, this launch is not surprising as there has been a lack of a meaningful and regulated Canadian sector.
The company says Canada clears approximately $424 billion per working day on traditional rail, which still relies on batch infrastructure first deployed in the 1980s. While the United States is driving the growth of the stablecoin sector through regulation, Canadian companies lack domestic options for moving Canadian dollars on blockchain, with USD-denominated stablecoins dominating.
Global stablecoin transaction volume will exceed $27 trillion in 2025, exceeding Visa’s annual payment volume. According to DeFiLlama, the current stablecoin market capitalization is $320 billion, with USD stablecoins accounting for the majority of that.
On the other hand, there are few domestic competitors.
Stablecorp, backed by Coinbase Ventures, filed a preliminary prospectus for QCAD with the Ontario Securities Commission last June and received final approval in December. This token is not widely available yet.
Additionally, Calgary company Loon, which was spun out of Paytrie in October, is taking over CADC, a stablecoin issued in 2021 that has processed more than $200 million in transaction volume. Loon has raised $3 million in pre-seed funding and has pre-filed a prospectus with the Alberta Securities Commission.
Tetra Trust is Canada’s first regulated digital asset custodian and provides custody of the country’s first staking-enabled Ether and Solana ETFs.
