Calgary-based Tetra Digital Group has raised $10 million to develop Canada’s first stablecoin backed by fiat currency. Investors include Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank, Shopify, and Urbana. The stablecoin, slated to launch in 2026, will be fully backed by Canadian dollars and secured through Tetra’s institutional-grade custody platform.
CEO Didier Lavallée said the initiative represents a milestone for Canadian financial sovereignty, uniting established institutions and fintech leaders. Founded in 2019, Tetra operates Tetra Trust, Canada’s first licensed digital asset custodian, and has worked with Coinbase, Coinsquare, and Figment.
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