Shopify and National Bank Back Canada’s First Regulated CAD Stablecoin, CADD

TL;DR Tetra Trust launched CADD, Canada’s first regulated CAD‑pegged stablecoin, backed by Shopify and National Bank, to enable 24/7 institutional payments on blockchain.

Context Canada moves roughly $424 billion each business day on legacy payment rails that still rely on 1980s batch processing. While the global stablecoin market cap stands at $320 billion and transaction volume exceeded $27 trillion in 2025, no regulated CAD‑denominated option existed for domestic businesses. This gap left firms dependent on USD stablecoins for blockchain‑based transfers.

Key Facts Tetra Trust issued CADD, a token pegged 1:1 to the Canadian dollar, with reserves held in trust under Canadian law and approved by the Alberta Treasury Board and Finance. The stablecoin launched on Base, Ethereum and Tempo, with Solana support planned. In September 2025, Tetra raised $10 million from a consortium that includes Shopify (NYSE: SHOP, TSX: SHOP), National Bank of Canada (TSX: NA), Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial and Urbana Corporation. CADD’s ticker is CADD.

What It Means By offering a regulated CAD stablecoin, Tetra targets institutional use cases such as real‑time corporate treasury, 24/7 cross‑border settlement and direct fintech‑to‑fintech transfers, replacing slow batch systems. If adopted, CADD could capture a portion of Canada’s $424 billion daily flow, reducing reliance on USD‑pegged tokens and lowering settlement costs. The project also tests whether a fiat‑backed stablecoin issued by a regulated bank can meet compliance standards while operating on public blockchains.

Watch for broader adoption by Canadian banks, integration with payment processors like Shopify’s commerce platform, and any forthcoming guidance from Canadian securities regulators on stablecoin reserves and redemption rights.