Digital asset custodian Balance establishes special purpose trust subsidiary and invests $10 million
Balance, a Canadian digital asset custodian, this week established the Balance Trust Company as a special purpose trust under the Loan and Trust Corporations Act of the province of Alberta.
The trust is linked to a patent certificate issued by the Alberta Finance Board and Treasury Department (ATBF), and Balance has committed $10 million in regulatory capital to this new wholly owned subsidiary to become a qualified Canadian and U.S. custodian.