Balance Introduces Balance Custody Institutional Grade Storage for Digital Assets
Aug. 30, 2018
TORONTO--(BUSINESS WIRE)--Aug 30, 2018--The solution features military grade security, support for 8 major cryptoassets, and unmatched yearly fees of just 50 basis points.
PARADISO VENTURES INC. O/A Balance (“Balance”) (the “Company”) today unveiled Balance Custody, a secure offline storage and digital asset management solution targeting institutional players such as hedge funds, family offices, depositary banks, and any other types of market makers or asset managers. With today’s launch, Balance becomes the first Canadian company to bring such a service publicly to the market.
Balance Custody has been running a closed pilot with a carefully selected set of customers since August of last year, period during which continuous engineering and product effort has been expended to build a financially transparent solution offering military grade security guarantees. As a result of a full year of development behind the scenes, the Company is pleased to offer the following services and innovations:
Buying and selling large volumes of 8 major digital assets sourced through a global network of corporate partners: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Dash (DASH), Ripple (XRP), and Stellar Lumens (XLM).
Geographically distributed, fully offline, access-controlled storage of digital assets on Hardware Security Modules adhering to the FIPS 140-2 Level 3 standard (military grade) with liquidity within 48 hours of request.
Fiat funding and withdrawal in full compliance with the Proposed Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, published in Part I of Canada Gazette Vol. 152, No. 23, on June 9th, 2018.
Fully segregated accounts, and an unmatched yearly fee of 50 basis points per year.
Financial transparency through a set of tools auditing of each asset, from sourcing to liquidation.
The solution is enabled by the Company’s cutting edge Digital Asset CacheTM technology which automates the creation, transaction, and liquidation of collections of digital wallets through a proprietary Layer 2 protocol. "While trying to put together a proof of concept we quickly discovered that the APIs and interfaces exposed by most blockchains are limited in functionality. Implementing a robust solution on a *per client* basis would quickly turn out to not scale. We knew we could do better, and thanks to R&D developments in the space, we did." said Balance CEO George Bordianu.
PARADISO VENTURES INC. O/A Balance is a Canadian leader in digital asset management and storage services. Its products target institutional, retail customers, as well as merchants. Balance aims to bring price stability to commerce by allowing consumers and merchants to use diversified baskets of cryptoassets as cash. This is enabled by their flagship technology, the Digital Asset CacheTM (DAC). A DAC is a self-managed collection of digital wallets, that can be created, re-balanced, transacted, and liquidated as one single unit. For more information visit www.balancenow.ca
PARADISO VENTURES INC. O/A Balance is a federally incorporated Canadian company (the “Company”) which sells digital goods and services. This is not an offer or solicitation of any investment contract or financial security and should not be misconstrued as such. Digital currencies and the blockchain are early technologies and as such have an associated high degree of risk. Balance does not offer financial or investing advice. We invite prospective clients (the “Client” or “Clients”) to perform their own independent research, as they will hold the entire liability associated with purchasing a Digital Asset Cache™ and using our services, potentially including partial or total loss of capital.
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CONTACT: PARADISO VENTURES INC. O/A Balance
Media and Investor Relations Inquiries:
George Bordianu, +1-647-628-7774
Founder & CEO
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: ONLINE RETAIL RETAIL
SOURCE: PARADISO VENTURES INC. O/A Balance
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PUB: 08/30/2018 07:30 AM/DISC: 08/30/2018 07:30 AM