Tetra Digital Expands CADD Stablecoin to Solana Blockchain

Tetra Digital Group has expanded its Canadian-dollar stablecoin CADD to the Solana blockchain. This marks a new addition to the list of four blockchains where CADD can be used for payments, transfers, treasury operations, and settlement. As of Sept. 23, CADD is available on Ethereum, Base, Tempo, and now Solana.

The token is backed by Canadian-dollar reserves and can be redeemed at CAD $1.00 per token. On Solana, CADD uses six decimals, with its official mint address being Az9eyxEaiZD9AX4j5nP19Cm79eyfNriTuddMSQmLNEBm.

The expansion follows a Sept. 22 announcement that Canada's six largest banks are exploring a shared CAD token network for transfers between financial institutions. This project involves Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Scotiabank, and TD Bank Group.