Tetra Trust Launches Canada’s First Regulated CAD-Pegged Stablecoin
- Tetra Trust Company launched CADD, a Canadian-dollar stablecoin approved by Alberta Treasury Board and Finance.
- CADD is the first CAD-pegged stablecoin issued by a regulated financial institution in Canada.
- The token supports major blockchains including Base, Ethereum, and Tempo, with plans for Solana integration.
- Tetra raised $10 million for the project with backing from firms like Shopify and National Bank of Canada.
- Global stablecoin transaction volume surpassed $27 trillion, with the market cap currently at $320 billion.
The launch of CADD addresses the growing demand for a regulated Canadian stablecoin amid an expanding global market. With Canada clearing approximately $424 billion per business day on outdated systems, CADD aims to facilitate modern financial transactions.
CADD positions itself for institutional use cases such as real-time treasury transfers and cross-border settlements, reflecting a significant advancement in Canada’s digital currency landscape. (Source)
