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About Loon
Loon is a Canadian stablecoin issuer operating as Loon Technology Inc., issuing CADC, a stablecoin pegged one-to-one to the Canadian dollar, in circulation since 2021 for Canadian businesses, financial institutions and on-chain protocols. It targets the absence of a Canadian-dollar rail on-chain: cross-border CAD settlement is constrained by banking hours and correspondent networks, leaving companies without a compliant CAD stablecoin channel. CADC's reserves are Canadian dollars in a segregated account at ATB Financial with monthly third-party attestation (101.00 percent reserve ratio verified in June 2026); the issuer is registered as a FINTRAC money services business, minting and redemption run under institutional multisig controls with KYC and AML, and the token is deployed on Ethereum, Base, Polygon, Arbitrum and Solana.
In the ecosystem, CADC acts as the CAD interface between fiat and DeFi: users move in and out through Paytrie via Interac e-Transfer, Aerodrome, PancakeSwap and CoW Swap on Base host USDC/CADC pairs, and Ajna lending pools accept CADC. The site reports more than $850 million in cumulative on-chain volume, but combined circulation across the five chains is only about 532,000 CADC, so the token's scale remains limited.
On February 2, 2026, Loon's Canadian dollar stablecoin CADC partnered with Paytrie to offer zero-fee minting and 1:1 conversion, with free redemptions above C$500 through April 30. CADC's cumulative transaction volume passed C$325 million, and its January reserve attestation showed C$1.545 million, roughly triple the prior year.
On June 1, 2026, Loon's CADC launched on Solana, with Paytrie supporting Interac e-Transfer on and off ramps. It was already deployed on Ethereum, Arbitrum, Polygon and Base and integrated with Aerodrome and PancakeSwap liquidity pools.
Loon will expand onchain Canadian dollar payments and non-USD stablecoin use cases, add exchange and wallet distribution, and seek an early compliant position as Canadian stablecoin legislation advances.
Kevin Zhang — Co-founder & CEO; University of Waterloo engineering graduate who worked on TD Bank's blockchain team and at Consensys, and co-founded fiat on-ramp Paytrie.