Wealth One Bank, controlled by Anthony Lacavera’s Globalive investment fund, has joined efforts to design and test a proposed Canadian dollar stablecoin known as CADD. The bank is partnering with Tetra alongside fintechs including Float, Koho, and Aquanow. Canadian lenders have increased crypto experimentation with encouragement from federal regulator OSFI, which has eased restrictions.
Tetra said recent test transactions showed CADD moving between Wealthsimple, Purpose, ATB Financial, and National Bank, all project backers. The initiative comes as Ottawa advances a regulatory framework for stablecoins, with legislation tabled in November. Wealth One was acquired by Globalive in July.
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