Anchorage Digital Partners with Tetra Digital Group for CADD Custody Services

Cryptocurrency industry players are taking steps towards increased regulatory compliance in Canada. A recent development has seen Anchorage Digital partner with Tetra Digital Group to offer custody services for CADD, a regulated Canadian dollar stablecoin. This move aims to increase accessibility of the stablecoin for institutional investors.

The partnership involves Anchorage Digital providing regulated custody for CADD to institutional clients. The stablecoin is backed 1:1 by Canadian dollars held at a licensed Canadian trust company and has been approved by Alberta regulators. As a result, institutions can now hold CADD through Anchorage Digital, a federally chartered crypto bank and qualified custodian.

This development comes as Canada finalizes a federal stablecoin regime that will require fiat-backed issuers to register with the Bank of Canada, maintain 1:1 reserves, and separate customer assets from their own balance sheets. The regime also bans yield on stablecoin holdings.