ATB Financial, a Crown-owned Alberta bank, has made a strategic investment in Tetra Digital Group, the parent company of Calgary-based crypto custodian Tetra Trust. The investment was part of a $10 million CAD funding round that included National Bank, Shopify, Wealthsimple, Shakepay, Urbana, and Purpose Unlimited. This marks a significant step in ATB’s innovation strategy and positions the bank at the forefront of blockchain-based financial services in Canada. Tetra plans to use the proceeds to develop a regulated Canadian dollar stablecoin and launch Tetra Unity, a new software platform for digital asset infrastructure. The stablecoin will initially be tested for business-to-business payment settlement, with broader adoption anticipated as regulatory clarity evolves.
Fasken advised ATB Financial with a team comprised of Will Shaw and Daniel Fuke.
Jurisdiction
- Canada
