Loon clears regulatory hurdle to issue CAD-backed CADC stablecoin

Calgary fintech Loon has received receipt for its final prospectus from the Ontario Securities Commission, granting exemptive relief to issue its Canadian dollar-backed CADC stablecoin. Paytrie, which spun Loon out last year, also secured relief to distribute CADC. Each token is backed by $1 CAD held in a reserve trust at ATB Financial.

• CADC has processed over $1 billion CAD in transactions since launching in 2021
• Loon spun out of Paytrie in 2025 with $3 million CAD in funding
• Regulatory negotiations took 18 to 24 months
• Stablecorp previously secured similar approval for its QCAD stablecoin