Tetra Digital Group Secures $10 Million to Develop Canadian Dollar Stablecoin
Tetra Digital Group, a digital asset custodian in Alberta, Canada, has raised approximately $10 million to develop a regulated stablecoin pegged to the Canadian dollar. Key investors include:
- Shopify
- Wealthsimple
- Purpose Unlimited
- Shakepay
- ATB Financial
- National Bank
- Urbana Corporation
The stablecoin is expected to launch in early 2026, pending regulatory approval. It will be issued by Tetra Trust and backed 1:1 by Canadian dollar reserves held domestically.
The stablecoin market is projected to grow from $270 billion to over $1 trillion, primarily dominated by U.S. dollar-pegged tokens. Tetra Digital aims to provide a reliable solution for Canadian dollar payments and remittances at scale.
CEO Didier Lavallée emphasized the initiative's focus on supporting Canadian financial solutions and maintaining economic sovereignty.
Earlier this year, Stablecorp also advanced its Canadian dollar-pegged QCAD stablecoin, raising $1.8 million with backing from Coinbase Ventures and filing for issuance approval in June.