Calgary-based Loon has raised $3 million in pre-seed financing to develop a Canadian-dollar-backed stablecoin, positioning itself at the forefront of sovereign digital payments. The round was led by Version One Ventures, with participation from Garage Capital and Canadian angel investors. Loon also acquired the CADC stablecoin from Paytrie, which has processed over $200 million in on-chain transactions.
CEO Kevin Zhang said the goal is a regulated, transparent digital dollar under Canadian oversight. The startup has pre-filed a prospectus with the Alberta Securities Commission, marking an early step toward national regulatory approval.
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