Blockchain
Brane and Crypto4A Enter Strategic Partnership to Deliver Canada’s First Quantum-safe Custody Solution for Digital Assets
Ottawa, Ontario–(Newsfile Corp. – March 2, 2023) – With quantum computing expected to threaten the security of current blockchain cryptography in the near future, Canadian technology firms Brane Inc. (“Brane”) and Crypto4A Technologies Inc. (“Crypto4A”) have partnered to provide institutional clients with an innovative, quantum-safe custody solution for digital assets.
This jointly developed solution incorporates expertise, equipment, and intellectual property from both partners, combining to create an all-in-one (hardware and software), scalable, and highly secure custody platform that enables financial institutions to securely manage digital assets at scale across multiple blockchains.
“Our collaboration with Crypto4A, an industry leader in quantum-safe cybersecurity solutions, has been driven by a sense of urgency and responsibility to equip institutional clients to keep digital assets safe and secure,” said Christian Desjardins, Brane’s Head of Product. “For institutions managing crypto without a plan in place to counter quantum computing threats, the question is: what are you waiting for?”
While blockchains are highly secure by current standards, experts around the world recognize that quantum computing will soon change the game for every stakeholder in the digital asset ecosystem.
According to the Government of Canada’s recently released National Quantum Strategy: “Quantum computing presents a significant cyber-security risk, as it has the potential to break current security algorithms, including those commonly used over the Internet. Quantum computing-enabled malicious cyber activity could put personal information, financial systems, utility grids, infrastructure, and national security in peril.”
“In the last 12 months, we have seen a rapid acceleration from governments and industry as a whole to begin migrating to post-quantum cryptography. Our company had the foresight to see this reality a long time ago, resulting in quantum-safe security that is built in, not bolted on. Our products have been built on quantum-safe foundations from the very beginning to enable the cryptographic agility, mobility, and scalability needed to keep up with rapid advances in technology, ensure true ownership of cryptographic material without vendor lock in, and support flexible cloud-scale deployment architectures,” said John O’Connor, Vice President, Product Management at Crypto4A. “We’re excited to partner with Brane, a recognized leader in blockchain security solutions, to set a new quantum-safe standard for digital asset custody.”
Beyond the immediate use case for custody of crypto tokens like Bitcoin and Ether, the strategic partnership between Brane and Crypto4A will empower banks and other financial institutions to mitigate quantum computing risks, alongside the full range of existing security threats, as they explore other applications of blockchain to their operations.
In addition to its technology business, Brane is the sole owner of Brane Trust Company Ltd., a trust company regulated by the Government of Alberta for the purpose of digital asset custody. Incorporated in September 2021, Brane Trust is progressing toward registration by Alberta’s Ministry of Treasury Board and Finance and status as a qualified custodian under Canadian securities law, which will enable the company to provide industry-leading, regulated custody for crypto asset trading platforms and exchange-traded funds (ETFs).
A backgrounder is available here: https://brane.ca/brane-and-crypto4a-enter-strategic-partnership-to-deliver-canadas-first-quantum-safe-custody-solution-for-digital-assets/
For more information:
Emile Scheffel
[email protected]
About Brane
Founded in 2017, Brane Inc. is a carbon neutral Canadian fintech company dedicated to setting the standard in digital asset custody. Brane Vault, its core digital asset custody technology, is third-party certified to stringent global standards including SOC 2 Type 1, ISO 27001, ISO 27017, and NIST CSF Tier 4, and the company is insured against theft and crime. Brane has been recognized as one of Canada’s Best Workplaces in Financial Services and Start-Ups categories by Great Place to Work®, and one of Canada’s 10 Best and Brightest Companies by Canadian Business magazine.
About Crypto4A
Crypto4A Technologies Inc. is a Canadian cybersecurity technology company providing industry leading, next-generation Quantum-Safe Hardware Security Modules (HSM) and Security Platforms. Its products and solutions provide processing capabilities for classic and quantum-safe cryptography that is built in, not bolted on. Crypto4A enables the cryptographic agility, mobility, and scalability needed by enterprises and government agencies to secure their digital assets and infrastructure while adapting to changing markets, standards, and requirements.
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
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