CADC adds the Canadian dollar to LayerZero's non-USD portfolio as local-currency stablecoins grow 158% year over year
LayerZero and Loon today announced that CADC, Loon’s Canadian dollar-backed stablecoin, will use the OFT standard to move natively across blockchains. The integration enables CADC to move across blockchains without requiring bridged or wrapped representations, preserving a single unified supply across all connected networks.
Loon and LayerZero’s Collaboration to Design a Secure, Growth-Oriented Configuration
Loon chose LayerZero to build a solution that could support their security, regulatory, and growth requirements. Before beginning any technical integration, Loon participated in bespoke design sessions hosted by LayerZero to work through these requirements and find the architecture that best fit their needs.
Interoperability has shifted from afterthought to prerequisite for stablecoin issuers operating in a multi-chain environment. LayerZero's OFT Standard is built to satisfy three critical requirements of institutional-caliber operators:
- Security: The OFT standard shows issuers exactly who verifies their transactions and what role each verifier plays. Issuers can choose from over 50 verifiers, including Fidelity’s Center for Applied Technologies, Google Cloud, Deutsche Telekom MMS, and Blockaid.
- Liquidity: LayerZero moves one unified supply natively across any connected chain. Issuers avoid bridged copies of their token, which fragments liquidity and adds custodial risk.
- Compliance Control: The OFT standard lets issuers grow their assets without giving up control. Issuers build a tech stack that is composable to their own standards, while retaining full contract authority at every step, a key requirement for institutional compliance teams worldwide.
The design sessions produced a five-verifier configuration for CADC’s cross-chain setup, including LayerZero Labs, Fidelity’s Center for Applied Technologies, Deutsche Telekom MMS, Canary, and Google Cloud.
LayerZero's Non-USD Portfolio Grows With a Fast-Moving Market
Non-USD stablecoins are still a small market: about USD 2.0 billion of over USD 320 billion in total stablecoin supply, or less than 0.6%. But the trajectory is notable. Non-USD stablecoins grew 158% year-over-year, well ahead of USD-backed stablecoins.
Several forces are driving this. Regulatory frameworks including MiCA in Europe, the HKMA stablecoin regime in Hong Kong, and the Payment Token Services Regulation in the UAE have created clearer pathways for institutions to issue locally-pegged digital currencies. Alongside regulation, motivations to preserve monetary sovereignty are prompting governments and institutions alike to treat local-currency stablecoins as a strategic priority rather than a niche product. As stablecoins see broader adoption in cross-border payments and domestic settlement, the FX conversion costs introduced by USD-denominated rails have become a practical problem that local-currency alternatives solve directly.
As more issuers launch local-currency stablecoins, LayerZero provides one token standard to reach 170+ chains. CADC reflects this same shift, holding ~60% of Canadian dollar stablecoin supply and recently crossing $500M in transactional volume.
With CADC, LayerZero adds the Canadian dollar to its growing portfolio of non-USD stablecoins, which includes Bitso's MXNB (Mexican peso), tGBP (British pound), BRL1 (Brazilian real), and KRWQ (Korean won).
For more information, visit LayerZero.Network/Resources.
About LayerZero
LayerZero connects the world's most important assets to the world's most utilized blockchains. Issuers use the OFT Standard to distribute assets to 100+ chains. Chains use LayerZero Endpoints to connect to those assets and users. Wallets and exchanges use the Value Transfer API to move them. Trusted by Tether, PayPal, Paxos, Ondo and Anchorage Digital, LayerZero is the standard for cross-chain interoperability.
About Loon
Loon builds and runs the infrastructure behind CADC, the Canadian Dollar Coin. The team manages the CADC Program, from the onboarding and oversight of Authorized Participants through to issuance, redemption and reporting. CADC has been live since 2021 and Canadians have moved nearly C$1 billion through it.