Tetra Digital Group launches Canadian-dollar stablecoin CADD, adds Solana support
Canada's first regulated CAD-backed stablecoin expands to Solana after debuting on Ethereum, Base, and Tempo, backed by a consortium including Wealthsimple, Shopify, and National Bank of Canada
Canada now has its own stablecoin, and it just landed on Solana. Tetra Digital Group, operating through subsidiaries Tetra Trust Company and CAD Digital Inc., has expanded support for its Canadian-dollar stablecoin CADD to the Solana network after initially launching on Base, Ethereum, and Tempo on May 4, 2026.
CADD is pegged 1:1 to Canadian dollars held in segregated trust reserves, independently audited, and approved by the Alberta Treasury Board and Finance.
Who’s backing CADD and why it matters
The list of backers reads like a who’s who of Canadian fintech and traditional finance. Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Shopify all form the consortium supporting the initiative.
Tetra raised $10 million in September 2025 to build this out.
The project cleared a key technical milestone back in December 2025, when the first transfer of a Canadian-dollar stablecoin occurred on a testnet between regulated institutions.
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Anchorage Digital has also stepped in to provide custody solutions for institutional clients, a partnership announced in late May 2026.
The case for a non-USD stablecoin
The target use cases are distinctly institutional: 24/7 cross-border settlements, real-time treasury transfers, programmable payments, and fintech-to-fintech settlements. These are the kinds of transactions that currently get bottlenecked by correspondent banking hours and legacy payment rails that shut down on weekends and holidays.
CEO Didier Lavallée has framed CADD as a tool to modernize Canadian payment infrastructure. When nearly all on-chain settlement runs through USD-pegged tokens, even domestic Canadian transactions end up economically tethered to the US dollar. CADD offers a way to keep Canadian financial activity denominated in Canadian currency, even in a blockchain-native environment.
Tetra Trust Company holds the distinction of being Canada’s first regulated digital asset custodian, which gives CADD a regulatory pedigree that most stablecoin projects lack at launch. The Alberta Treasury Board and Finance approval means a Canadian provincial regulator has explicitly signed off on the product.
Why Solana, and what comes next
The expansion to Solana is a pragmatic move. Solana’s transaction throughput and low fees make it particularly well-suited for payments use cases, which is exactly what CADD is targeting. By launching across four blockchains, CADD positions itself to meet institutional users wherever they already operate.