Balance, Canada’s digital asset custodian, is pleased to announce that it has once again surpassed $2B worth of assets under custody (AUC).
Balance’s CEO, George Bordianu said:
“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. 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 claims that it is “well-positioned to support both new and existing clients navigating the complexities of digital asset custody.”
Dustin Plett, Chief Sales Officer at Balance, said:
“With the market picking up again we’re seeing our clients and prospects explore new products and offerings. 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 says that it has “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.”