Canadian crypto custodian Balance has obtained qualified custodian status

ChainCatcher news, according to CoinDesk, Canadian crypto custodian Balance has announced that it has obtained qualified custodian status. So far, the crypto ETF assets issued by Canadian ETF providers 3iQ, Purpose Investments, and Evolve have been held under sub-custody arrangements with companies like Coinbase and Gemini in the United States.

Balance CEO George Bordianu stated in an interview, "We want to bring these assets back to Canada, and we are working to optimize it so that new asset management companies can invest more in ETFs and mutual funds in Canada more cheaply and easily."