Tetra Trust launches Canadian dollar-pegged stablecoin CADD

Canadian digital technology and financial services provider Tetra Trust has launched CADD, a stablecoin pegged to the Canadian dollar (CAD), CoinDesk reported. The stablecoin is the first of its kind to be issued by a regulated Canadian financial institution and has received approval from the Alberta Treasury Board and Finance. CADD is designed for institutional investors, aiming to replace traditional batch systems for use cases such as 24/7 cross-border payments, real-time corporate treasury management, and fintech transfers. It is available on major blockchains including Base, Ethereum, and Tempo, with support for Solana planned for the future. Canadian multinational e-commerce company Shopify and the National Bank of Canada are part of the project's consortium.