Digital asset infrastructure provider Tetra Digital Group has completed a $10 million financing round, with participation from Urbana Corporation and others

ChainCatcher news, according to businesswire, digital asset infrastructure provider Tetra Digital Group announced the completion of a $10 million financing round, with participation from Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank, and Shopify.

The new funds are intended to support the launch of a Canadian fiat-backed stablecoin. It is reported that the Tetra stablecoin will leverage Tetra Digital Group's institutional-grade custody infrastructure to provide businesses and consumers with a stable, secure, and fully compliant digital currency, backed 1:1 by Canadian dollar reserves.