Loon Raises $3 Million to Build Canada's Regulated Digital Dollar; Acquires CADC Stablecoin
CALGARY, AB, Oct. 27, 2025 /PRNewswire/ -- Loon, a Canadian stablecoin company, today announced it has raised $3 million CAD in pre-seed financing to develop a Canadian-dollar-backed stablecoin designed to operate under Canadian regulation. Loon has also acquired the CADC stablecoin, launched in 2021 by Paytrie with over $200M in volume transacted, and will assume responsibility as its new issuer.
The pre-seed round was led by Version One Ventures, with participation from Garage Capital and a syndicate of strategic Canadian angel investors. The round was strategically assembled to unite Canada's leading investors and advisors behind the mission of launching a made in Canada stablecoin. Funding will accelerate product development, expand Loon's engineering and compliance teams, and support its national regulatory engagement strategy.
For years, Canada's growing digital-asset economy has relied primarily on US dollar stablecoins, creating friction for domestic users and exporting value abroad. Loon's mission is to build trusted, transparent Canadian payment infrastructure for the digital economy, strengthening economic sovereignty and enabling settlement in Canadian dollars directly on-chain.
"Canada is at a crossroads," said Kevin Zhang, CEO of Loon. "We can either remain dependent on foreign financial infrastructure or build our own sovereign rails for the digital era. By providing a regulated, trusted digital Canadian dollar, we're unlocking the next generation of innovation, from payments to capital markets."
A bridge between banks and blockchain
CADC enables users and businesses to settle transactions in Canadian dollars on-chain, instantly and 24/7. A freelance developer in Halifax can receive payment from a Vancouver client in seconds, a Toronto-based importer can settle with an overseas supplier in real-time, bypassing the delays, limitations and costs of banks. CADC is designed to deliver real-time settlement, continuous access, wholesale FX rates, and deep liquidity.
Built for transparency and regulation
Loon has pre-filed a prospectus with the Alberta Securities Commission (ASC) as a first step toward full regulatory approval. The company is collaborating with regulators to establish rigorous standards and accountability for the stablecoin industry.
Boris Wertz, Founder & General Partner, Version One Ventures:
"We believe the next generation of financial infrastructure will be built on open, transparent rails. Loon is creating the foundation for a digital Canadian dollar, a critical step toward a more inclusive and sovereign financial system."
Michael McCauley, General Partner, Garage Capital:
"Canada needs sovereign digital payment infrastructure - and now is the time. We're excited to back this experienced team with the regulatory commitment and momentum to bring a trusted Canadian stablecoin to market."
Next steps
Over the coming weeks, Loon will begin onboarding its initial distribution partners including virtual-currency exchanges, fintech applications, and liquidity providers. To learn more about CADC and how to support it, visit our website at https://loon.finance/
About Loon
Loon Technology Inc. is a Canadian financial technology company dedicated to building a regulated, transparent, and trusted Canadian-dollar stablecoin (CADC). Learn more at https://loon.finance
Media Contact
Kevin Zhang, CEO | Loon Technology Inc.
[email protected] | Calgary, AB
1-647-931-6070
SOURCE Loon
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