According to Techub News, according to CrowdFundInsider, Canadian digital asset custodian Balance established Balance Trust Company this week as a special purpose trust company under the Alberta Loan and Trust Company Act.
Balance invested $10 million in regulatory capital into the newly formed wholly owned subsidiary to become a qualified Canadian and U.S. custodian.
Over the past 18 months, Balance has worked closely with the Alberta Treasury Board and the Ministry of Finance (ATBF) to complete financial statement audits, asset independence certification, SOC 2 Type 2 certification, system penetration testing, and expansion of the management team. In the coming weeks, Balance will focus on registering Balance Trust Company to begin operations as a qualified custodian.
