Tetra Trust Company, a Calgary-based digital technology and financial services provider, launched CADD, the first CAD-pegged stablecoin issued by a regulated financial institution in Canada, approved by Alberta Treasury Board and Finance. The stablecoin is live on Base, Ethereum, and Tempo (with Solana support planned) and is backed by a consortium including Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Urbana Corporation, which holds a majority stake. 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, with the company saying that Canada clears roughly $424B per business day on legacy rails dependent on batch infrastructure first deployed in the 1980s.
