Crypto custodian Brane Capital Joins CLA, Launching Canada’s First Comprehensive Collateral Custody Solution for Crypto-Backed Loans
June 14, 2021 (Toronto) — The Canadian Lenders Association (CLA) is pleased to welcome Brane Capital, Canada’s leading cryptocurrency and digital asset custodian, as Brane launches the first Canadian collateral custody solution for loans secured by crypto assets like Bitcoin and Ethereum.
Combining cutting-edge custody technology, private key management protocols, and customizable reporting capabilities, Brane’s new offering empowers lenders to realize the growing opportunities of crypto-backed lending.
“Crypto-backed loans are an exciting new opportunity for Canadian lenders,” said Gary Schwartz, President of the CLA. “Lenders have the chance to use Brane’s new technology to offer new loans secured against crypto, unlocking liquidity for holders and a new asset class for lenders.”
“We’re excited to unlock the ability for lenders to originate loans backed by cryptocurrencies, holding crypto as collateral safely in Brane’s Vault technology,” said Jerome Dwight, President of Brane Capital and former CEO of Bank of New York Mellon Canada. “Brane’s specialized collateral management and security infrastructure allows lenders to manage and monitor collateral with ease and confidence.”
Brane’s highly secure, multi-signatory crypto custody technology is among the few in the sector certified to ISO 27001, ISO 27017, and NIST CSF tier 4 standards – the highest practical levels of assurance for information security – with SOC 2 certification underway.
At a time of rapid evolution in the cryptocurrency regulatory landscape, Brane has integrated compliance guidelines established by IIROC, OSFI, and Canadian securities regulators. Brane’s solutions include real-time valuations and customizable reporting so that lenders and borrowers have continual line of sight on the value of crypto held as collateral. The company announced this week that it plans to list publicly on the TSX Venture Exchange this fall.
Brane and CLA will work together to increase trust and transparency in the new digital asset class, providing confidence to lenders and borrowers.
About Canadian Lenders Association
The Canadian Lenders Association supports the growth of companies that are in the business of lending, or providing other means of credit, to small businesses and individuals by non-conventional or innovative means to exchange ideas and explore ways of improving the sector; encourage principled and professional practices by Innovative Lenders; educate the public at large about Innovative Lending; encourage individual potential borrowers to be informed about the appropriateness of Innovative Lending to the borrowers’ circumstance; and to advocate on behalf of, and represent the interests of Innovative Lenders
About Brane Capital
Founded in 2017, Brane is a blockchain innovation company. Brane helps organizations understand and unlock the power of the blockchain and digital assets. Brane Vault, its digital asset custody service, is ISO 27001 certified – first in the world with cryptocurrency in scope, ISO 27017 certified, and NIST Tier 4 — the first company in Canada, in any industry, to receive such certification. Brane Vault offers advanced proprietary technology and processes with numerous provisional patents and is fully insured against theft and crime.
To learn more about Brane’s crypto-backed lending collateral solution, visit www.brane.capital/lending.
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