Shopify and National Bank of Canada Back Canada’s First Regulated CAD Stablecoin

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Tetra Trust Company on Monday launched CADD, a Canadian-dollar stablecoin that has received approval from Alberta Treasury Board and Finance. Tetra describes it as the first CAD-pegged digital currency issued by a regulated financial institution in Canada. The Calgary-based firm is backed by Shopify, National Bank of Canada, Wealthsimple, and several other Canadian financial institutions, which Tetra said are also supporting the token’s commercial launch. 

Tetra Targets Institutional Settlement and 24/7 Cross-Border Transfers

Tetra has positioned CADD for institutional use cases that existing batch payment systems cannot accommodate, including 24/7 cross-border settlement, real-time corporate treasury transfers, programmable marketplace payouts, and direct fintech-to-fintech transfers that bypass correspondent banking delays. 

The company said reserves are held in trust under Canadian law and dedicated solely to redemption. According to Tetra, Canada currently clears roughly $424 billion per business day on legacy payment rails the company says date to the 1980s. In a December testnet transaction, Tetra said Wealthsimple and National Bank of Canada completed what the company described as the first stablecoin transfer between two Canadian financial institutions.

Global Stablecoin Volume Hit $27 Trillion in 2025 as CAD Options Remained Limited 

Global stablecoin transaction volume surpassed $27 trillion in 2025, according to DeFiLlama, exceeding Visa’s annual payment volume of approximately $13 trillion. The total stablecoin market cap now stands at $320 billion, with USD-denominated tokens accounting for the overwhelming share. 

According to Tetra, Canadian businesses had no regulated domestic option for moving CAD on public blockchains prior to CADD’s launch. Tetra says this pushed businesses toward USD-pegged stablecoins for on-chain transactions. 

Two Other Canadian Stablecoin Projects Are Also Seeking Regulatory Standing

Canada’s regulated stablecoin field remains narrow but is developing alongside CADD. Stablecorp, backed by Coinbase Ventures, filed a preliminary prospectus for its QCAD token with the Ontario Securities Commission in June 2024 and received final approval in December, though the token is not yet broadly available. 

Separately, Loon, a Calgary firm spun out of Paytrie in October 2025, is taking over CADC, a stablecoin launched in 2021 that has processed more than $200 million in volume. Loon raised $3 million in pre-seed funding and has pre-filed a prospectus with the Alberta Securities Commission.

Tetra’s Regulatory Approval Distinguishes CADD From Earlier Canadian Stablecoin Efforts

Tetra Trust, which describes itself as Canada’s first regulated digital asset custodian, currently provides custody for what the company says are Canada’s first staking-enabled Ether and Solana ETFs. 

Tetra says its Alberta approval makes CADD the first CAD stablecoin issued by a regulated financial institution, a distinction the company says sets it apart from earlier Canadian stablecoin projects. The token’s expansion to Solana and broader commercial availability have not yet been scheduled.