Tetra Digital Group, a digital active guard based in Alberta, Canada, said on Monday that he had collected around $ 10 million to develop and issue a regulated stable that is set to the Canadian dollar.
Project donors include Shopify, Wealthsimple, purposes Unlimited, Shakepay, ATB Financial, National Bank and Urbana Corporation, which has held a majority participation in Tetra since April.
The company aims to deploy stablecoin in early 2026, subject to regulatory approval. The token would be issued through Tetra Trust, a regulated subsidiary of custody of digital assets, and would be supported 1: 1 with the reserves of the Canadian dollar detained at the national level, according to the press release.
Stablecoins, a special cryptocurrency group on blockchains with prices related to fiduciary currencies, are increasingly considered a faster and cheaper alternative for global payments. The market is expected to exceed $ 1 billion in the coming years, compared to 270 billion dollars, but it is extremely dominated by tokens anchored to the US dollar.
Tetra Digital’s objective with the development of a stablecoin in Canadian dollars is to “create a reliable solution of institutional quality for Canadian dollar payments and versions,” the company said.
“By bringing together numerous financial institutions and the most reliable companies in Canada, we are not only launching a stablecoin – we support local solutions, built by Canadians, for Canadians and we are ensuring economic sovereignty,” said CEO Didier Lavallée in a press release.
Earlier this year, Fintech Stablecorp, based in Toronto, raised $ 1.8 million, including Coinbase Ventures to advance the development of its Qcadin PEGAD QCAD QCAD. The cabinet filed a preliminary prospectus with the Ontario securities commission for the emotional issue in June.
