Shopify, Banks Back Canadian Stablecoin for 24/7 Settlement
Tetra Trust launched CADD, the first regulated Canadian dollar stablecoin, with backing from Shopify, National Bank, and others. It aims to modernize Canada's $424B daily settlement system, offering 24/7 transfers on Ethereum and Base, with Solana support planned, amid rising global stablecoin adoption.
Quick Take
Tetra Trust launches CADD, Canada's first regulated CAD stablecoin.
Backers include Shopify, National Bank, Wealthsimple, and Purpose Unlimited.
Live on Base, Ethereum, Tempo; Solana integration is planned.
Aims to modernize Canada's $424B daily legacy settlement system.
Market Impact Analysis
BullishLaunch of a regulated stablecoin by a trusted custodian with prominent backers can drive institutional adoption of blockchain technology and increase demand for CADD on networks, potentially benefiting the underlying blockchain ecosystems and the stablecoin market generally.
Speculation Analysis
Key Takeaways
- Tetra Trust debuts CADD, Canada’s first regulated CAD stablecoin, with institutional backing from Shopify and National Bank.
- The token is live on Base, Ethereum, and Tempo, with Solana integration planned, targeting real‑time 24/7 settlements.
- CADD aims to disrupt Canada’s $424 billion daily legacy batch settlement infrastructure.
- The launch follows a $10 million funding round and testnet transfers between Wealthsimple and National Bank.
What Happened
Tetra Trust Company launched CADD, a Canadian‑dollar stablecoin approved by the Alberta Treasury Board and Finance. It is the first CAD‑pegged token issued by a regulated financial institution in Canada. Reserves are held in trust under Canadian law, dedicated solely to redemption. The token is live on Base, Ethereum, and Tempo, with Solana support planned. The launch was backed by a cohort of major fintech and banking players—Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Urbana Corporation—who also participated in Tetra’s $10 million funding round.
The Numbers
Tetra’s backers span Canada’s financial and tech infrastructure. The stablecoin enters a market where global transaction volume passed $27 trillion in 2025, exceeding Visa’s annual payments. In Canada, the legacy payment system clears roughly $424 billion each business day using batch infrastructure from the 1980s. CADD’s launch follows a December testnet transfer between Wealthsimple and National Bank—the first time a Canadian stablecoin moved between two financial institutions. The current stablecoin market cap sits at $320 billion, nearly all in USD‑denominated tokens.
Why It Happened
Canada lacked a regulated, domestic stablecoin for moving value on blockchains, forcing businesses to rely on USD‑pegged alternatives. The country’s payment rails remain outdated, operating on 40‑year‑old batch settlement cycles. The U.S. push for stablecoin regulation highlighted the gap further. A CAD‑denominated option enables 24/7 real‑time settlement, cross‑border transfers, and programmable payouts without correspondent banking delays. Tetra, Canada’s first regulated digital asset custodian, leveraged its existing trust framework to fill this void.
Broader Impact
CADD could accelerate blockchain adoption among Canadian institutions and challenge the dominance of USD stablecoins in domestic use cases. It competes with projects like QCAD (from Coinbase Ventures‑backed Stablecorp) and Loon’s CADC, though those are not yet broadly live. The launch may also pressure regulators to clarify stablecoin frameworks, given Alberta’s proactive approval. Increased CAD liquidity on‑chain could spur new fintech products, from treasury management to instant marketplace settlements.
What to Watch Next
- Solana integration timeline—additional chain support will expand CADD’s reach to high‑speed DeFi environments.
- Adoption by backers like Wealthsimple and National Bank for real‑world settlement and treasury operations.
- Regulatory responses from Ontario and federal authorities as QCAD and CADC progress toward launch.
This article is for informational purposes only and does not constitute financial advice.
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