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Tetra Digital Launches Canadian Stablecoin CADD
Tetra Digital announces CADD stablecoin backed by Canadian Dollar fiat currency with a latest approval from Alberta regulator.
Canada is ramping up its stablecoin issuance activities (Tom Carnegie / Unsplash)
Tetra Digital launches CADD stablecoin.
Tetra Digital is officially launching its Canadian Dollar backed stablecoin following a regulatory approval from Alberta's Treasury Board and Finance in Canada. With this, the company is going live with CADD stablecoin now available on Ethereum, Base and Tempo networks.
In a press release, Founder and CEO Didier Lavallée expressed:
“CADD is issued by a regulated financial institution, with reserves held in Canada and compliance built in from day one by a firm with Canada’s longest track record of operating regulated digital asset infrastructure.
At the start of April, the Department of Finance Canada had released an updated regulatory roadmap for locally issued stablecoins with strict 1:1 backing in stablecoin reserves, echoing the reserve criteria of U.S. and EU frameworks.
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