News · Crypto Briefing
Base welcomes CADD, Canada’s first regulated dollar stablecoin
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Backed by the National Bank of Canada, ATB Financial, Wealthsimple, and Shopify, the CAD-pegged stablecoin gives Canadian crypto users a domestic on-ramp they've never had.
Key facts
- Launched on May 4 by Tetra Digital Group, CADD is pegged 1:1 to the Canadian dollar and backed by CAD reserves
- Base, Coinbase’s Ethereum layer-2 network, has processed over 167 million transactions in agentic economies, making it one of the most active L2s in the ecosystem
- For a stablecoin designed to facilitate everyday transactions and 24/7 trade settlements, keeping fees low isn’t optional
- Peg stability is the existential question for any stablecoin, and CADD will need to prove it can maintain its 1:1 ratio during periods of market stress
Summary
Canadian crypto users have long been forced into an awkward workaround: convert their loonies to US dollars, buy a USD stablecoin, then finally do something useful onchain. Launched on May 4 by Tetra Digital Group, CADD is pegged 1:1 to the Canadian dollar and backed by CAD reserves. Tetra Trust, the entity behind Tetra Digital Group, holds a distinction that matters in this it’s Canada’s first regulated digital asset custodian. The stablecoin is currently live on three platforms: Base, the Ethereum mainnet, and Tempo.