There’s CADC on Ethereum and CADC on Polygon…now PayTrie is bringing CADC to Arbitrum!
Following the launch of USDC on Arbitrum, PayTrie is expanding support for CADC, allowing users to purchase CADC on the Arbitrum network as well. CADC is a Canadian Dollar stablecoin that is fully backed by reserved assets, redeemable on a 1:1 basis for the Canadian dollar.
Token address for CADC on Arbitrum is:
0x2b28E826b55e399F4d4699b85f68666AC51e6f70
All CADC funds are safeguarded in a segregated account with a fully regulated tier-1 Canadian bank. The Canadian dollar reserves for CADC go through an attestation report by our banking partner each month, ensuring that CADC will always be redeemable for Canadian dollars. To learn more about CADC on PayTrie, visit our FAQ page.
As for Arbitrum, it is a layer 2 solution designed to alleviate Ethereum’s network congestion and high transaction costs. Many people bridge their Ethereum token to Arbitrum using the Arbitrum bridge. But for our users, purchasing CADC on Arbitrum is a simple and direct way to get on the network, so users can take advantage of what the network has to offer without the extra step. If you’re not familiar with the network, we break down what is Arbitrum in this article.
How to Buy/Redeem
Using your PayTrie account, you can purchase CADC on Arbitrum using eTransfer. Select “CADC-ARB”, then follow the instructions shown to complete your transaction. PayTrie covers the gas fees for these transactions to send CADC to your wallet.
Going the other direction, redeeming your CADC-ARB for Canadian dollars is just as simple. You’ll select “CADC-ARB” to “CAD”, then follow the instructions to send the CADC-ARB back to PayTrie’s wallet address, and you’ll receive an eTransfer to your bank account.
If you’ve been thinking about CADC or Arbitrum, this is it! Sign up on www.paytrie.com or log in to your account to get started.
