Balance surpasses $2B of assets under custody

CALGARY, Alberta--(BUSINESS WIRE)--#crypto--Balance, Canada’s oldest and largest digital asset custodian, is pleased to announce that it has once again surpassed $2B worth of assets under custody (AUC).

"Our focus since day one has been to build a world-class custodian for companies working with digital assets. We rejected vending ready-made solutions and instead built our offline and warm infrastructure entirely in-house, from the ground up. It was a monumental effort and it took us years before being able to compete with the likes of Coinbase and BitGo, but it’s finally paying off,” said Balance’s CEO, George Bordianu. "The 2022 bear market tested our resilience, taking our business from a high of $2.5B AUC to a low of $500M at some point. I’m grateful our team was up to the challenge and rebuilding to $2 billion in AUC is a testament to their hard work and unwavering commitment to our clients."

With Bitcoin having crossed the $1 trillion dollars market cap, Balance is well-positioned to support both new and existing clients navigating the complexities of digital asset custody.

“With the market picking up again we’re seeing our clients and prospects explore new products and offerings,” commented Dustin Plett, Chief Sales Officer at Balance. “Balance continues to be the custodian of choice for companies who need a flexible infrastructure partner that can quickly build what’s needed to accommodate any custom workflows or unique requirements.”

As part of auditing its financial statements, Balance is currently in process of performing an independent Proof of Assets Under Custody report. The report is expected to be finalized by the end of March and will be made available upon request once completed.

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 $2 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.

Josh Le
media@balance.ca
+1 (833) 225-7030