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Balance celebrates turning five and surpasses $500M of assets under custody

Balance | George Bordianu | Jun 28, 2022

Balance celebrates 5 years of business - Balance celebrates turning five and surpasses $500M of assets under custody

Balance celebrates turning five and surpasses $500M of assets under custody

TORONTO - June 28, 2022 - Balance is proud to celebrate five years in business serving Canadians as the country's top digital asset custodian.

Founded in June 2017, the company introduced its custody services in a closed pilot in August 2018. The public launch followed one year later, the first of its kind in Canada. Having surpassed $500M of assets under custody (over $2.5B ahead of the recent market pullback), this makes Balance not only the oldest Canadian digital asset custodian, but also the largest.

“Our focus since day one has been to build a world-class solution for Canadian businesses. To compete with established giants such as Coinbase and Gemini, we eschewed vending ready-made solutions and instead built our offline and warm infrastructure in-house. It wasn’t an easy challenge. It took us over one year of building and one year of polishing before our public launch. We’re grateful to our early backers at Techstars and Bicameral Ventures for sharing the vision and taking bet on us. The Canadian ecosystem is better off as a result.” - George Bordianu, Chief Executive Officer

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Since its August 2019 public launch, Balance has grown its client base to include companies that span Canada, certain US states, as well as BVI and Cayman Islands. Balance successfully serves crypto exchanges, OTC and prop. trading desks, neobanks, ATM networks, private funds, market makers, liquidity providers, foundation treasuries, and more.

“The fact that we built our infrastructure in-house allows us to charge 10-25 bps/year and offer free unlimited withdrawals while maintaining positive unit economics. Typical market rates are 30-50 bps/year with an additional 1-5 bps/transfer. Our prospects sometimes have a hard time believing that a small Canadian company built a solution that’s 2-3x more cost effective than what the industry giants offer. Yet we prove it every day.” - Dustin Plett, Chief Sales Officer

To celebrate these milestones and better showcase its product offering, Balance has launched a new online presence at www.balance.ca.

Contact:
Dustin Donley Plett
dustin@balance.ca
+1 (833) 225-7030

View:  Original release


NCFA Jan 2018 resize - Balance celebrates turning five and surpasses $500M of assets under custodyThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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