Loon has secured approval from the Ontario Securities Commission to issue its Canadian dollar-backed CADC stablecoin in Canada. The Calgary-based fintech announced that its CADC Reserve Trust received a final prospectus receipt. The token has already supported over C$1 billion in transactions since its original launch in 2021.
Distribution details
The prospectus qualifies CADC distribution in all Canadian provinces and territories. It covers a continuous offering through a network of Authorized Participants. Paytrie is an Authorized Participant and offers purchases and sales using Interac e-Transfer.
Company background
Loon launched last year with C$3 million and acquired CADC from Paytrie in 2025. Paytrie initially built the token as an experiment. Loon Payments is a registered money services business and a wholly owned subsidiary of Loon Technology Inc.
How CADC works
Each CADC token is designed to hold a value equal to one Canadian dollar. For tokens bought from the issuer, C$1.00 is deposited into a segregated reserve account at ATB Financial. Users can hold the token in self-hosted wallets and use it to send or receive payments.
Loon still has work to complete on migrating legacy CADC to the new contract. The final prospectus is available on SEDAR+ under the issuer's profile. The Government of Canada has also released proposed stablecoin regulations, which Loon described as a positive step forward.