Tetra Digital Group to Build Canada’s First Regulated Stablecoin

The funding round drew backing from Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Shopify. These organizations bring a diverse mix of capital markets expertise, consumer fintech adoption, banking experience, and technology scale to the table. Their involvement highlights the breadth of institutional interest in ensuring that Canada develops a homegrown, compliant, and competitive stablecoin solution. Tetra Digital Group emphasized that this is the first time a regulated Canadian financial institution will spearhead a stablecoin initiative, aligning with efforts in other G7 countries to integrate regulated digital money into national payment infrastructures.

The new stablecoin will be issued by Tetra Trust, Canada’s first regulated digital asset custodian. It will be fully backed one-for-one by Canadian dollar reserves held under Canadian oversight. By using Tetra’s institutional-grade custody and orchestration platforms, the company says the design will ensure security, compliance, and consumer protection at scale.

Didier Lavallée, CEO of Tetra Digital Group, described the move as a landmark step. “Today marks a pivotal moment for Canadian financial innovation,” he said. “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.”

Several participating executives underscored why they see the project as a defining moment for Canadian financial innovation. Thomas S. Caldwell, C.M., Chairman of Urbana Corporation, stated, “Urbana Corporation, as a significant shareholder of Tetra Digital Group, is extremely optimistic about this exciting new initiative both for the company and Canada as a whole.”

Blair Wiley, Chief Legal Officer at Wealthsimple, said, “This partnership represents a defining moment for Canada’s digital economy. Tetra has sparked nationwide enthusiasm across century-old institutions, tech leaders, traditional financial services and those at the forefront of financial innovation. It’s rare for such a broad group of high-quality companies to work together on a project like this. The depth of experience at the table will create a truly Canadian stablecoin solution that will open up new opportunities for businesses, consumers and homegrown talent.”

Som Seif, CEO of Purpose Unlimited, said, “This is a groundbreaking initiative for Canada’s financial future, and we’re thrilled to be part of it. Partnering with Tetra and other leading institutions to build a trusted Canadian dollar stablecoin is a natural extension of Purpose’s mission to democratize access to financial innovation and strengthen Canada’s role as a global leader in digital assets.”

Jean Amiouny, CEO of Shakepay, said, “At Shakepay, we’ve always believed in building trusted financial infrastructure that gives Canadians more choice in how they move, hold, and grow their money. This partnership reflects our commitment to pioneering technology that expands access to modern financial tools and doing so with the regulatory safeguards and user trust Canadians expect. We're proud to be part of a homegrown initiative that positions Canada at the forefront of digital financial innovation.”

Traditional banking institutions also signaled their confidence. Daniel Ordibehesht of ATB Financial emphasized the balance of innovation and compliance. “We are proud to be part of the development of a regulated Canadian stablecoin, which will provide a secure and reliable foundation for digital payments and commerce, creating new opportunities for our clients and Canadian businesses.” Joshuah Lebacq of National Bank’s venture arm, NAventures, pointed to long-term value creation. “Together, we will combine innovation with the safeguards needed to support Canadians and businesses in the future.”

The initiative reflects several advantages that Tetra Digital Group believes will position it strongly within Canada’s evolving financial landscape. As the first stablecoin issued through a regulated Canadian institution, it is designed to demonstrate regulatory leadership. By being built on Tetra Trust’s custody infrastructure, it offers enhanced security to both consumers and businesses.

By holding reserves in Canada under national oversight, the model reinforces economic sovereignty. With the backing of Canada’s most innovative fintech companies and financial firms, the project carries the weight of industry leadership. Finally, its design aims to strengthen Canada’s global competitiveness by providing businesses with tools to succeed in the digital economy.

With the $10 million investment secured, Tetra Digital Group is preparing for regulatory engagement and technical development in the months ahead. If approved, the stablecoin could enter circulation in 2026, offering Canadians a domestically anchored alternative in a global market largely dominated by U.S. dollar-based stablecoins. By combining established banking partners with fintech innovators, the initiative seeks to balance consumer trust, financial inclusion, and regulatory rigor. For Canada, it may signal a broader strategy to ensure that digital payments infrastructure is shaped by domestic institutions, rather than relying solely on foreign models.