Tetra Digital Secures $10M Funding for Canadian Dollar Stablecoin Development

Funding Announcement

Tetra Digital Group, based in Alberta, Canada, has successfully raised $10 million to develop and issue a regulated stablecoin pegged to the Canadian dollar.

Key Points:

The stablecoin is intended to be fully backed by Canadian dollar reserves and is projected for launch in early 2026, pending regulatory approval.
The firm aims to facilitate Canadian dollar payments and remittances at scale.

Backers of the Project: Among the notable investors are Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank, and Urbana Corporation, which has maintained a majority stake in Tetra since April.

According to the firm, the goal of this project is to create a reliable, institutional-grade solution for payments tied to the Canadian dollar.

Quote from CEO Didier Lavallée: “By bringing together many of Canada’s most trusted financial institutions and companies, we’re not just launching a stablecoin — we’re supporting homegrown solutions, built by Canadians, for Canadians and ensuring we maintain economic sovereignty.”

Earlier this year, Stablecorp, a Toronto-based fintech company, raised $1.8 million to promote its own Canadian dollar-pegged stablecoin, the QCAD.