What is CADD?

CADD is the stablecoin behind your Canadian Dollar balance on Moneda. In the app you simply see and hold a CAD balance. The stablecoin is the mechanism underneath, the same way EUR balances are held as EURC.

It is issued by Tetra Digital Group, and was the first Canadian dollar stablecoin issued by a regulated Canadian financial institution. It is approved by Alberta Treasury Board and Finance.

What that means for you:

• CADD is backed 1:1 by Canadian dollars.
• The funds backing it are held in trust and dedicated solely to redemption, with reserves at Canadian financial institutions including tier one banks.

CADD runs on Base, which is the network Moneda uses. Tetra's backers include Shopify, Wealthsimple, Shakepay, ATB Financial, and National Bank of Canada.

CAD is rolled out gradually and may depend on your region, so it may not be enabled for your account or country yet.