Quick Facts
Loon has raised CAD $3 million in a pre-seed round to launch a Canadian-dollar-backed stablecoin under regulation.
The funding round was led by Version One Ventures with participation from Garage Capital and a syndicate of Canadian angel investors.
As part of the deal, Loon acquired the existing stablecoin CADC (launched by Paytrie in 2021) and will become its new issuer.
CADC has already processed over CAD $200 million in transaction volume, making it one of the more active Canadian-dollar stablecoins.
Loon is proactively engaging with the Alberta Securities Commission by pre-filing a prospectus as it seeks regulatory approval for its stablecoin framework.
The move underlines a strategic push to shift Canada’s stablecoin infrastructure away from U.S.-dollar-denominated tokens toward sovereign digital Canadian-dollar rails.
The company will use the funds to expand its engineering and compliance teams, further product development and accelerate regulatory market engagement.
The investment comes at a time when Canada lacks a unified stablecoin regulatory regime and is encouraging domestic innovation in digital payment infrastructure.