CALGARY, Alberta--(BUSINESS WIRE)--Balance, Canada’s oldest and largest digital asset custodian, is pleased to announce it filed an application for a letters patent on August 21st with Alberta’s Treasury Board and Finance to incorporate a special purpose trust company under the Loan and Trust Corporations Act (Alberta). This is a significant step towards becoming a qualified Canadian custodian, which we hope to be welcome news to companies in the local digital asset and crypto ecosystem.
"Canada’s 10 restricted dealers and 22 listed public funds currently custody the vast majority of what’s over $5 billion worth of digital assets with US based custodians such as Coinbase and BitGo. The lack of local options has been frustrating these firms for years and something we’re working to address. Our trust application is one of the last pieces of the puzzle for us to bring a built-in-Canada, end-to-end solution to the regulated market.” says Balance’s CEO, George Bordianu.
Over the past six years, Balance successfully served digital asset exchanges, OTC and prop. trading desks, neobanks, ATM networks, private funds, market makers, liquidity providers, and corporate entities and across Canada and certain parts of the world. Balance currently custodies over $1 billion worth of digital assets in its SOC 2 certified proprietary platform.
To find out more, visit www.balance.ca.
Disclaimer
PARADISO VENTURES INC. O/A Balance is a private company incorporated under the Canada Business Corporations Act, R.S.C., 1985, c. C-44 with its registered office address at 888 3rd St SW, Bankers Hall West Tower, 10th floor (Attn: Balance), Calgary, Alberta, T2P 5C5, Canada. Balance sells digital goods and services. This is not an offer or solicitation of any investment contract or financial security and should not be misconstrued as such. Balance does not provide financial, investment, tax, legal, or any other type of professional advice. Digital assets and blockchain are novel technologies and have an associated high degree of risk. For informational purposes only.
