Canadian digital technology and financial services provider Tetra Trust has launched CADD, a stablecoin pegged to the Canadian dollar (CAD). According to CoinDesk, this is the first CAD-pegged stablecoin issued by a regulated Canadian financial institution, and it has been approved by the Alberta Ministry of Treasury Board and Finance. CADD was developed for institutional investors for purposes such as 24/7 international payments, real-time corporate financial management, and fintech transfers, aiming to replace existing batch systems. It is available on major blockchains including Base, Ethereum, and Tempo, with Solana support also planned. Canadian multinational e-commerce company Shopify and the National Bank of Canada are said to have participated in the project consortium.
