Points of Focus

• CADC has expanded to Solana, giving users access to a Canadian dollar-backed stablecoin on one of crypto’s largest blockchain networks.
• Canadians can mint and redeem CADC through Paytrie using Interac e-Transfer from launch day.
• The move brings a CAD-denominated payment asset to a market still dominated by US dollar stablecoins.

CADC, a Canadian dollar-backed stablecoin issued by Loon, has launched on the Solana blockchain, giving Canadian users a way to move and hold tokenized Canadian dollars within one of crypto’s most active ecosystems. The launch also includes an Interac e-Transfer on-ramp through Paytrie, allowing users to mint and redeem CADC directly from Canadian bank accounts.

The launch gives Canadian users a way to transact onchain in their local currency without first converting funds into US dollar stablecoins. While stablecoin activity has grown rapidly, most onchain payments, trading, and liquidity continue to rely on US dollar-denominated assets such as USDC (USDC) and Tether’s USDt (USDT).

🇨🇦CADC is now live on @solana

🔴The Canadian Dollar Coin is coming to one of crypto's fastest, cheapest ecosystems, bringing low-cost CAD transactions onchain

Read the full blog here: https://t.co/S9lJLFLPWG

[1/6] pic.twitter.com/EBNEGgaCLJ

— CADC (@CADCstablecoin) June 1, 2026

CADC brings Canadian dollars to the Solana ecosystem

According to Loon, each CADC token is backed and redeemable 1:1 for Canadian dollars held in reserve with regulated Canadian financial institutions. The company said the stablecoin is designed to support payments, transfers, and other onchain transactions while maintaining exposure to the Canadian dollar rather than cryptocurrency price movements.

Loon said it selected Solana because of the network’s low transaction costs and ability to process large volumes of transactions. Solana hosts a large ecosystem of decentralized exchanges, payment applications, and consumer-focused crypto products that could support future CADC use cases.

The launch also follows broader efforts by Paytrie and Loon to push Canadian dollar stablecoin adoption into practical payment use cases. In May 2026, Paytrie announced a remittance service using CADC and USDC to move funds from Canada to countries such as Mexico and Nigeria.

Paytrie adds Interac access for CADC users

From day one, users can buy, sell, mint, and redeem CADC on Solana through Paytrie using Interac e-Transfer. The arrangement creates a direct bridge between Canadian banking rails and blockchain-based payments.

Paytrie said CADC purchases on Solana will carry no purchase fee under a promotional pricing structure that runs through Dec. 31, 2026. The company already supports stablecoin on-ramping and off-ramping for Canadian users across multiple blockchain networks.

CADC is now live on @Solana!

This brings the Canadian dollar onchain to one of the fastest and most active blockchain ecosystems in the world.

You can now mint and redeem @CADCstablecoin on Solana through Paytrie.

We’re excited to support the growth of the Solana ecosystem in… pic.twitter.com/RSZQsKUNPs

— Paytrie – Buy And Sell Stablecoins In Canada (@Paytrie) June 1, 2026

CAD stablecoins face a market dominated by USD assets

The launch arrives as competition among Canadian dollar stablecoins increases. In May, Canadian digital asset custodian Tetra Trust launched CADD, a separate CAD-pegged stablecoin backed by a consortium that includes Shopify and National Bank of Canada.

While new CAD-denominated products continue to enter the market, their biggest challenge remains adoption. Stablecoin liquidity, trading activity, and payment flows are still concentrated in US dollar assets. Loon said additional partnerships are planned as it seeks to expand CADC’s availability across the Solana ecosystem.