Tetra Digital Group has launched CADD (CRYPTO: $CADD), a Canadian-dollar stablecoin backed 1:1 by CAD and issued through Tetra Trust Company via its agent CAD Digital Inc. The company said the token has received regulatory approval from Alberta Treasury Board and Finance, making it Canada’s first CAD-backed stablecoin issued by a regulated financial institution. CADD is now live on Base, Ethereum (CRYPTO: $ETH) and Tempo, with Solana (CRYPTO: $ETH) support expected to follow.
The launch brings a domestic stablecoin option to a market where digital-dollar infrastructure has largely been dominated by U.S. dollar assets. Canada clears about $424 billion per business day, but retail payments still rely heavily on batch-based systems, leaving a gap between the country’s traditional payment activity and the kind of continuous settlement stablecoins can support. CADD is designed to bring Canadian dollars onto programmable blockchain networks with near-instant settlement finality.
Tetra said all funds used to mint CADD are held in trust and dedicated exclusively to redemption, a structure aimed at banks, payment companies and fintech platforms that need regulatory clarity from the start. The token is backed by a consortium that includes Tetra Digital Group, Urbana Corporation (TSX: $URB), Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada (TSX: $NA) and Shopify (NASDAQ: $SHOP).
Founder and CEO Didier Lavallée said CADD was built with reserves held in Canada and compliance included from day one, adding that the token lets Canadian dollars move onchain “within a structure institutions recognize.” The product follows a December testnet phase in which CADD moved between National Bank of Canada and Wealthsimple, giving the project an early institutional proof point before launch.
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The practical read is that Canada’s stablecoin market is starting to move from discussion into live infrastructure, with regulated custody, domestic reserves and institutional distribution now tied to a CAD-denominated token built for settlement, treasury transfers and fintech payments.