Tetra CADD
CADD is a Canadian dollar stablecoin issued through Tetra Trust, a regulated Canadian trust company, with reserves held 1:1 in Canadian dollars in trust and dedicated exclusively to redemption. Launched in May 2026 with approval from Alberta's financial regulator and backing from Shopify, Wealthsimple, National Bank of Canada and ATB Financial, it is the first CAD stablecoin issued through a Canadian financial institution. It runs on Ethereum, Base and Tempo and targets around-the-clock payment and settlement in Canadian dollars as an alternative to US-dollar stablecoin dominance.
A credibly engineered, regulated CAD settlement rail with serious institutional backing, but monetary alignment is minimal: fully fiat-pegged, custodial and issuer-controlled.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x3.0
Minting is full-reserve and debt-free (deposit CAD, receive CADD) with symmetric redemption, but a single regulated entity controls issuance and the collateral is purely fiat with no real-economy signal.
Spending Power Stability2x3.0
Cash-in-trust backing plus direct redemption keeps a tight CAD peg and trust regulation adds verifiability; the benchmark is a single fiat currency and the live track record is only months old.
Fiat Independence & Interoperability2x1.0
By design 100% fiat: CAD unit of account, CAD reserves in regulated custody, full dependence on Canadian banking rails.
Traction2x2.0
Months-old with minimal circulating usage so far, but unusually strong institutional partners (Shopify, Wealthsimple, National Bank, ATB) and significant national media coverage for a launch.
Sovereignty1.0
Fully custodial reserves, one regulated issuer in one jurisdiction; the regulator or issuer can halt or freeze the system.
Governance2.0
Corporate and regulator-supervised with disclosed reserve structure, but no participant governance and no separation of monetary rules from company decisions.
Resilience2.0
The trust structure segregates reserves from company risk, yet the system is new, untested under stress, and jurisdictionally concentrated in Canada.
Inclusivity2.0
Institution- and KYC-first onboarding at launch; permissionless holding on public chains partially offsets the gated mint and redeem path.