Balance this year facilitated a “pioneering transaction” in Alberta, the Canadian crypto custodian recently announced.
Using Bitcoin as collateral, Balance enabled a Calgary-based client to secure a vehicle purchase from Shift Happens Auto Sales, a used vehicle dealership based in Airdrie.
Shift Happens was founded in 2024 as a “Bitcoin-native dealership” that provides flexible financing to individuals with limiting credit histories.
The dealership transacts digital assets as a core part of their business, but desired to introduce a new option for a client who didn’t want to liquidate their Bitcoin.
Finding a solution that eliminated counterparty risk where there was no neutral mechanism to safeguard both sides during the transaction was a novel challenge, according to Balance, which ultimately provided Shift with custodial and escrow services through its institutional-grade infrastructure.
“This transaction shows that digital assets can function as practical financial instruments in everyday commerce when the right safeguards are in place,” believes George Bordianu, a cofounder of Balance who serves as chief executive officer of the fintech.
Bitcoin was held in Balance’s offline storage under its bailment-based custody arrangement. The collateral remained securely held until conditions set forth in the Escrow Agreement were satisfied. Upon fulfillment, Balance is releasing the Bitcoin in 12 monthly fiat tranches as instructed by the buyer.
“By providing secure custody and escrow, we enabled both parties to focus on the deal itself, knowing that the Bitcoin collateral was held safely and released according to agreed terms,” Bordianu said.
The process was structured to comply with Canadian regulatory frameworks governing digital assets, including compliance with CSA and FINTRAC mandates.
Wesley Craik, who serves Shift Happens as Director, says the dealership is “committed to finding creative, customer-friendly ways to make vehicle ownership possible.”
“While we accept Bitcoin, this was the first time we’d used it as collateral for an auto loan,” he explained. “Balance’s role as a neutral third party made the idea possible and easy to execute; the process was smooth, compliant, and delivered exactly what was promised.”
The success sets a precedent for expanding digital asset–backed transactions across industries, according to Balance. As more assets become tokenized, the company believes its custody-first, escrow-backed framework can enable safe and compliant adoption of novel use cases.
In July, for example, Balance worked with Bow Valley Credit Union and Calgary-based Bull Bitcoin on the Bitcoin Gateway—a platform that enables members to buy Bitcoin directly from their existing credit union accounts.
Balance was founded in 2017.
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