Wealthsimple has begun offering CADD, the Canadian dollar stablecoin issued by Tetra Trust Company, to a limited group of retail clients.
Wealthsimple and Tetra Digital Group announced the beta today and said they plan to extend access to all Wealthsimple clients by year-end.
The companies say Wealthsimple is the first regulated financial institution to offer CADD to its clients. Participants can buy, hold, sell, send and receive the token in the Wealthsimple app. That gives them a way to pay a supplier or send money abroad on a blockchain without first converting their Canadian dollars into a U.S. dollar stablecoin.
“Canadians hold millions of dollars in US-denominated stablecoins, and are using them to power their businesses, buy goods and services, and send money internationally. They should have a Canadian option to choose,” said Blair Wiley, Wealthsimple’s chief legal officer.
Clients can redeem each CADD for one Canadian dollar. Tetra Trust, an Alberta-regulated trust company, holds a dollar in reserve for every token it issues. It keeps those reserves at regulated Canadian financial institutions in assets such as cash, money market funds and short-term Canadian government debt, according to Wealthsimple’s CADD disclosure.
Wealthsimple will fund a promotion offering eligible clients 3.25% annually on their CADD balances. Under its rewards program, rewards accrue daily and Wealthsimple pays them weekly in CADD. The rate can change.
Wealthsimple invested in Tetra Digital Group in 2025 and tested transfers with National Bank of Canada that December. Tetra launched CADD on Base, Ethereum and Tempo in May.
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