• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
Calgary.Tech

Calgary.Tech

 
 
  • Home
  • News
  • Events
  • Interviews
  • Thought Leaders
  • Techtalent.ca
  • About Us
  • Contact Us

Calgary Crypto Custodian Balance Builds Back Better After ‘Resilience Tested’

February 22, 2024 by Knowlton Thomas Leave a Comment

In 2022, Canadian crypto custodian Balance celebrated its fifth anniversary with $500 million of assets under custody.

Founded in June 2017, the startup introduced its custody services in a closed pilot in August 2018. The public launch followed one year later, the first of its kind in Canada.

Since its August 2019 public launch, Balance has grown its client base to include companies that span Canada, the US, and other regions.

“Our focus since day one has been to build a world-class custodian for companies working with digital assets,” says George Bordianu, who serves as chief executive officer of Balance.

Bordianu says Balance “rejected vending ready-made solutions and instead built our offline and warm infrastructure entirely in-house, from the ground up.”

“It was a monumental effort,” the CEO says, “and it took us years before being able to compete with the likes of Coinbase and BitGo—but it’s finally paying off.”

This week, the Calgary-based firm revealed that it has surpassed $2B in assets under custody.

It’s an accomplishment, but the figures don’t tell the whole story—it’s not the first time Balance has achieved this milestone.

After growing rapidly to $2.5B AUC, the post-Pandemic bear market dragged the company’s business back down to $500M.

The downward market “tested our resilience,” Bordianu recalls, “taking our business from a high of $2.5B AUC to a low of $500M at some point.”

Thankfully, his team was up to the challenge of building back better.

“Rebuilding to $2 billion in AUC is a testament to their hard work and unwavering commitment to our clients,” the CEO stated.

As the market picks up again, clients and prospects are exploring new products and offerings, according to Dustin Plett, who functions as chief sales officer at Balance.

“Balance continues to be the custodian of choice for companies who need a flexible infrastructure partner that can quickly build what’s needed to accommodate any custom workflows or unique requirements,” he stated.

The Toronto-born fintech recently moved its headquarters to Calgary, a move it had been working toward since 2021.

Filed Under: News Tagged With: Balance

About Knowlton Thomas

Knowlton Thomas is Editor-in-Chief of The Midway Advance and Senior Writer for Calgary.tech. Over more than a decade of journalism, he has penned thousands of articles and dozens of essays on technology, health, and culture across a variety of publications.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

 
 

Stay Connected

  • LinkedIn
  • RSS
  • Twitter

Community Partners

Bulletin Board

Startup Scene Heats Up with Inventures 2025 Pre-Party at Platform

Alberta’s innovation community will get an early … [Read More...] about Startup Scene Heats Up with Inventures 2025 Pre-Party at Platform

KPMG’s AI Made Real Summit to Bring Practical AI Insights to Calgary Leaders

KPMG, in collaboration with Microsoft, is bringing … [Read More...] about KPMG’s AI Made Real Summit to Bring Practical AI Insights to Calgary Leaders

Techstars Startup Weekend Returns to Calgary This May

Over fifty-four hours, strangers will become … [Read More...] about Techstars Startup Weekend Returns to Calgary This May

Casey Lau Previews Web Summit Vancouver for Calgary’s Startup Community

With Web Summit Vancouver fast approaching, host … [Read More...] about Casey Lau Previews Web Summit Vancouver for Calgary’s Startup Community

Collisions YYC Podcast Marks 500th Episode with Live Calgary Event

Collisions YYC, Calgary’s leading business and … [Read More...] about Collisions YYC Podcast Marks 500th Episode with Live Calgary Event

Copyright © 2025 Incubate Ventures | Techtalent.ca · Techcouver.com · Decoder.ca · Fintech.ca · CleanEnergy.ca | Privacy