New Digital Asset Trust Company to Make Calgary Headquarters in Canada

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A new independent cryptocurrency company has received provincial approval for incorporation with the intention of moving its Canadian headquarters to Calgary.

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Brane Trust Company Ltd. – a new division of Brane Inc. – now needs regulatory approval to begin operations in Alberta. In the meantime, they are looking for office space and are in the midst of hiring 100 members of staff.

“We’re trying to professionalize… we’re trying to bring a lot of credibility to this cryptocurrency asset class,” said Adam Miron, Executive Chairman and CEO of Brane. “Let’s face it, the cryptocurrency is here to stay, the train left the station with over $ 2 trillion in crypto assets, right now.”

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Brane Trust Company is not a new cryptocurrency mining hive and they do not trade cryptocurrency. They are a holding company or custodian of assets. Essentially, they will provide safe and high security storage for the cryptocurrency so that it can be better accessed by individuals through their banks or for investment purposes.

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Custodians have played a major role in banks and other financial and investment institutions by storing traditional currency and assets for generations, instead of keeping every nickel in a giant vault under the bank.

Different types of assets have different primary custodians to ensure the trust and safety of the asset. Crypto is the latest asset class to take hold.

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“These companies are not household names, but they are incredibly large companies that have incredible weight and an astronomical amount of money,” Miron said. “We aim to become one of those in the new asset class.”

Brane Inc. was funded in 2017 and has a decentralized workforce of approximately 25 employees across Canada. Receipt of their letters patent of incorporation for Brane Trust Company is a big step forward for the new entity to become a custodian.

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The next step is for Brane to obtain a registration certificate from the Alberta Treasury and Finance Department, which Miron says is scheduled to take place in 2022.

They are exploring a number of options for their corporate headquarters, from downtown offices to less conventional options due to their cold storage component requirements.

Earlier this year, the company was certified operationally carbon neutral by Carbonzero.

Brane is following in the footsteps of Calgary startup Tetra Trust, which paved the way for Brane Trust earlier this year.

Jobs, Economy and Innovation Minister Doug Schweitzer said these types of businesses will play a critical role in Alberta’s economic recovery.

“Announcements like today’s by Brane Capital simply demonstrate new momentum and diversification of Alberta’s economy as well as the development of our technology hub as a technology hub for Canada,” a- he declared. “When we look at the development of cryptocurrency around the world, cryptocurrency is one area where Alberta wants to become a major player. “

Schweitzer noted the effectiveness of the province’s regulations and the lack of paperwork to make themselves attractive to these types of businesses.

jaldrich@postmedia.com

Twitter: @ JoshAldrich03