Blockchain
Brane Trust Announces Board of Directors For Alberta-Based Digital Asset Custodian
Calgary, Alberta–(Newsfile Corp. – March 1, 2022) – Brane Inc. (“Brane”), a leading independent cryptocurrency custody solutions provider, announced today the inaugural Board of Directors for Brane Trust Company Ltd. (“Brane Trust”) – a wholly owned subsidiary of Brane that, following regulatory approval, will provide regulated custody of digital assets to institutional clients such as banks, asset managers, corporations, and public sector organizations seeking to manage cryptocurrencies.
Granted letters patent in October 2021, Brane Trust is now progressing toward a certificate of registration from Alberta’s Ministry of Treasury Board and Finance that will enable the company to open for business. Brane Trust’s development is overseen by a Board of Directors that includes five distinguished, Alberta-based directors.
“The recent incorporation of Brane Trust was a significant milestone in our roadmap to provide highly secure and independent custody that keeps cryptocurrencies safe on behalf of our clients,” said Patricia McCunn-Miller, Director for Brane Trust. “While expanding into cryptocurrency services may seem like a risky and complex endeavour for institutions, we are proud to support that transition by providing a secure, flexible, and easy to use platform to manage digital assets.”
Following regulatory approval, Brane Trust will provide custody of digital assets through a comprehensive, scalable and modular solution backed by strong insurance policies and institutional-grade risk management.
“I’m proud to be working with Brane, a company that combines innovation and trust, and represents a significant investment in Alberta’s economy and tech sector,” said Stephen Buffalo, Director for Brane Trust. “We look forward to working with Alberta’s regulators and business community to build on our province’s growing reputation as a great place to do business.”
“The Brane Trust Board of Directors brings together a group of talented and experienced executives to help us build a trusted brand for digital asset custody in Alberta,” added Adam Miron, Interim CEO of Brane Inc. and Chair for both Brane and Brane Trust’s boards of directors.
Brane Trust’s directors include:
Patricia McCunn-Miller – Lawyer, energy executive and corporate director with extensive experience in regulatory and environmental, social and governance (ESG) matters, President of Blue Bridge Energy, and past member of the National Energy Board and National Roundtable on the Environment and the Economy.
Stephen Buffalo – Chair of the Alberta Indigenous Opportunities Corporation, President and CEO of the Indian Resource Council, Governor of the Canadian Energy Executives Association, Senior Fellow of the Macdonald-Laurier Institute, and former Regional Manager, Southern Alberta of Peace Hills Trust.
Nick Facey – Digital technology solutions expert, Lead, Industry Solutions with Unity Technologies, and Vice Chair of Digital Alberta.
Shree Govindarajan – Community leader and digital marketing expert at Edmonton-based Paper Leaf.
Riyaz Virani – Co-founder of acclaimed Calgary-based homebuilding and property management company Sarina Homes.
Melanie Pump, CPA, CGA – Financial management and operations executive and Chief Financial Officer for Brane Inc.
Adam Miron (Chair) – Entrepreneur, author, and Interim CEO of Brane Inc.
Detailed biographies are available on the Brane website at www.brane.ca/about/.
In the coming weeks, Brane Trust expects to announce key hires, the location of its Calgary headquarters, and further regulatory milestones.
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About Brane
Founded in 2017, Brane Inc. is a carbon neutral, independent Canadian cryptocurrency custody service provider, helping institutional clients unlock the opportunities of blockchain and digital assets. Brane Vault, its core digital asset custody technology, is third-party certified to stringent global standards including ISO 27001, ISO 27017, and NIST CSF Tier 4, and insured against theft and crime.
About Alberta’s Financial Services Sector Concierge
Alberta’s government is committed to diversifying the economy and bringing more jobs to Alberta by making it easier for financial services companies to develop new products and services and set up shop here in our province. Alberta’s Financial Services Concierge works closely with Invest Alberta to save job creators time and money by guiding them through our province’s regulatory environment and providing the information needed to operate in Alberta’s financial sector. For more information or to connect with the concierge, visit: https://investalberta.ca/financial-services-concierge/.
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities legislation, which reflect Brane’s current expectations regarding future events, including statements relating to: the ability of Brane to become carbon neutral, the ability of Brane and other market participants to reduce greenhouse gas emissions. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of words or phrases such as “create”, “continue to”, “expand”, “accelerate”, “enhancing”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Brane’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. All forward-looking statements made in this press release are made as of the date hereof and Brane does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Contact Information
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115092
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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