CADD Stablecoin Lands on Solana, Expanding Canadian Payment Options

Tetra Digital Group has launched its Canadian-dollar stablecoin CADD on the Solana network, expanding its availability to four blockchains, including Base, Ethereum, and Tempo. This move positions CADD as a tool for modernizing Canada's payment infrastructure.

The stablecoin is pegged 1:1 to Canadian dollars held in segregated trust reserves, which are independently audited and approved by the Alberta Treasury Board and Finance. Tetra Trust Company, the parent company of CADD, holds the distinction of being Canada's first regulated digital asset custodian.

Support for CADD comes from a consortium of prominent Canadian fintech and traditional finance companies, including Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Shopify. Anchorage Digital has also partnered with Tetra to provide custody solutions for institutional clients.

The expansion to Solana is strategic, as the network's high transaction throughput and low fees make it well-suited for payments use cases, which CADD is targeting. By launching on multiple blockchains, CADD aims to meet institutional users wherever they operate.