The bank, which Lacavera’s investment fund Globalive acquired in July, has joined fintechs including Float, Koho and Aquanow in helping Tetra design and test a proposed new stablecoin, a crypto asset called CADD, pegged to the value of the Canadian dollar. (The Logic)

Talking point: Canadian banks have been ramping up their crypto experimentation with the encouragement of the Office of the Superintendent of Financial Institutions, which has been easing restrictions on the practice. The new group of testing partners will work with the consortium of banks and high-profile tech companies that are backing the stablecoin. Tetra, the company that will issue CADD, announced it has successfully completed a series of test transactions that demonstrate how the stablecoin could move between Wealthsimple, Purpose, ATB Financial and National Bank, all of which are investors in the project. The federal government tabled highly anticipated legislation governing stablecoins in November.