CALGARY, Alberta--(BUSINESS WIRE)--Balance, Canada’s oldest and largest digital asset custodian, is pleased to announce that it has moved its corporate headquarters and relocated its core business from Toronto, Ontario to Calgary, Alberta.
Registered in Alberta since 2021, Balance initially established an office in Edmonton, then subsequently moved it to Calgary, as its base of operations in the province. In August 2023 Balance filed an application to incorporate a trust with Alberta's Treasury Board and Finance. Turning the Calgary office into its official headquarters is in support of this work and in continuation of Balance’s commitment towards the province.
“Ontario gave us the solid ground we needed to start, however Alberta's regulatory framework and positive reception to our industry gives us the foundation needed to grow. In particular, the existence of a special-purpose regime for provincial trusts is extremely attractive, as it provides the structure we need to become a qualified custodian, without having to satisfy regulatory requirements pertaining to activities we don’t perform such as deposit-taking business. We're grateful for our beginnings in Ontario and enthusiastic about the opportunities in Alberta.”, said Balance’s CEO, George Bordianu.
Invest Alberta, a crown corporation that works to attract investment to the province, has been keen to help with the transition and provide Balance with access to resources, from introductions to local service providers and talent, to help and advice with relocating staff.
“We extend a warm welcome to Balance as the company relocates its office and team to Calgary, Alberta.”, said Rick Christiaanse, the CEO of Invest Alberta. “Our tech and business communities have created a supportive environment for new companies to thrive, which is a unique advantage that Alberta offers to companies worldwide and across Canada.”
Through extensive R&D and engineering Balance has built a proprietary tech stack and digital asset custody solution, which features world-class security and flexibility. As part of this corporate move, it expects to open a few new positions on its team, both in engineering and across the rest of its functions, and over time make significant contributions to local job creation.
“We have made Alberta the best place to work in Canada to work in tech and have a tech company. This move by Balance just demonstrates our growing reputation as an international hub of investment and innovation.”, said Nate Glubish, Alberta’s Minister of Technology and Innovation.
“I am pleased to welcome Balance to Calgary from Toronto and look forward to their contributions to our growing tech ecosystem. Alberta’s talent, world-class education system, and pro-investment policies continue to draw businesses from across the country further solidifying Alberta as the economic engine of Canada.”, said Matt Jones, Alberta’s Minister of Jobs, Economy, and Trade.
Over the past seven years, Balance successfully served digital asset exchanges, OTC and prop. trading desks, ATM networks, private funds, market makers, liquidity providers, and corporate entities across Canada and certain parts of the world. Balance currently custodies over $1.5 billion worth of digital assets in its SOC 2 certified proprietary platform.
Find out more: 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 which sells digital goods and services. Balance is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business dealing in virtual currencies with registration number M20210422 and with the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) as a money services business with registration number 31000258737080. 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 the blockchain are early technologies and as such have an associated high degree of risk. For informational purposes only.
