Shopify and National Bank of Canada are among backers of a new digital currency built to settle trades 24/7

Tetra Trust's new stablecoin, CADD, is aimed at institutional use for 24/7 cross-border settlement, real-time corporate treasury, and direct fintech transfers, replacing legacy batch systems.

What to know:

• Tetra Trust launched CADD, the first CAD-pegged stablecoin from a regulated Canadian financial institution, approved by Alberta Treasury Board and Finance.
• CADD is aimed at institutional use for 24/7 cross-border settlement, real-time corporate treasury, and direct fintech transfers, replacing old batch systems.
• The token is live on Base, Ethereum, and Tempo, with Solana support planned. Its launch is backed by a consortium including Shopify and the National Bank of Canada.

Tetra Trust Company, a Canadian digital technology and financial services provider, launched CADD, a Canadian-dollar stablecoin approved by Alberta Treasury Board and Finance.

The company said it’s the first CAD-pegged stablecoin issued by a regulated financial institution in Canada. Reserves are held in trust under Canadian law and dedicated to redemption, according to the firm. The token is live on major blockchains, including Base, Ethereum and Tempo, with Solana support planned.

The Calgary, Alberta-based Tetra raised $10 million for the project in September 2025, with backing from Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada and Urbana Corporation, which holds a majority stake. The same consortium is also supporting the launch.

In December, Tetra ran testnet transactions between Wealthsimple and National Bank. The transfer was the first time a Canadian stablecoin moved between two financial institutions, the firm said.

Tetra positioned CADD for institutional use cases, including 24/7 cross-border settlement, real-time corporate treasury transfers, programmable marketplace payouts, and direct fintech-to-fintech settlement without the delays of correspondent banking.

A $320 billion market

The launch isn't a surprise, as the stablecoin sector has grown exponentially in recent years but lacked a meaningful, regulated Canadian counterpart.

Canada clears roughly $424 billion per business day on legacy rails that are still dependent on batch infrastructure first deployed in the 1980s, the firm said. While the U.S. is pushing to grow the stablecoin sector through regulation, Canadian businesses have lacked a domestic option for moving CAD on blockchains, leaving USD-denominated stablecoins to dominate.

Global stablecoin transaction volume passed $27 trillion in 2025, exceeding Visa's annual payment volume. The current stablecoin market cap is $320 billion, with the lion’s share accounted for by USD stablecoins, according to DeFiLlama.

Meanwhile, the competitive set in the country is small.

Stablecorp, backed by Coinbase Ventures, filed a preliminary prospectus for QCAD with the Ontario Securities Commission in June last year and received final approval in December. The token is not yet broadly available.

There is also Loon, a Calgary firm spun out of Paytrie in October, that is taking over CADC, a stablecoin launched in 2021 that has processed more than $200 million in volume. Loon raised $3 million pre-seed and pre-filed a prospectus with the Alberta Securities Commission.

Tetra Trust was Canada's first regulated digital asset custodian and provides custody for the country's first staking-enabled ether and solana ETFs.

More For You

Clearing giant's move toward live tokenization market adds weight to Wall Street's blockchain push.

What to know:

• DTCC, Wall Street's clearinghouse, plans its first tokenized asset trades in July, with a full launch in October.
• SEC no-action relief clears path for limited use across major equities and Treasuries.
• The move adds weight to Wall Street's push to tokenize among NYSE, Nasdaq, BlackRock, JPMorgan and others.

The government should promote innovation, not punish it

31 minutes ago

Wall Street giant DTCC plans tokenized securities platform with July pilot, October launch

1 hour ago

Tom Lee says 'crypto spring' started as largest Ethereum treasury buys $238 million in ether

2 hours ago

Binance is launching a withdrawal lock to help deter crypto wrench attacks

3 hours ago

Trump-affiliated World Liberty sues Justin Sun for 'defamation' after Tron creator's lawsuit

3 hours ago

CoinDesk 20 performance update: Bittensor (TAO) jumps 4.1% over the weekend

3 hours ago

Iran missile report sends bitcoin back to $79,000, with ETH, SOL, DOGE sharply lower

5 hours ago

Crypto bears got it wrong again, losing $300 million in liquidations

6 hours ago

U.S. voters don't trust Trump administration to oversee crypto sector, CoinDesk poll finds

May 3, 2026

Coinbase boosts Solana trading with DFlow integration

6 hours ago

Veteran trader Peter Brandt sees bitcoin hitting $250,000, but only after a bottom later this year

12 hours ago

Strategy raised $82 million last week but holds off on bitcoin buys ahead of earnings

11 hours ago