Brane Capital: An independent solution to secure crypto assets

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Author of the article:

Nicole Edwards Postmedia Content Works

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Aug 13, 2021 7 hours 4 minutes ago Jerome Dwight, President of Brane Capital. PHOTO PROVIDED Content of the article

Gone are the days when cryptocurrency was mysterious and niche, traded only by tech-savvy investors. With a market value that has surpassed all US currencies in circulation, crypto has grown into one of the largest asset classes in the world. In the years to come, it is highly likely that anyone handling money, from large banks to young investors, will have a vested interest in the proper management and regulation of crypto and the underlying blockchain technology.

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This is the mission adopted by Brane Capital, a Canadian fintech company that offers secure custody solutions to institutions looking to manage cryptocurrencies.

Brane believes independent cryptocurrency custodians can play a vital role in stabilizing the market and protecting investors. Like a digital evolution of traditional asset custodians, crypto custodians oversee the private keys that give people access to their crypto investments and create the framework for institutions to securely manage digital assets.

Brane started in 2017 as a company that built technology to solve a central problem: How do you protect digital assets? They recognized that to help nurture the industry and enable investors to participate, it was necessary to ensure that it was possible to securely access and invest in this innovative asset class, explains Jerome. Dwight, a seasoned banking and fintech executive who took on the role of chairman at Brane earlier this year. We believe we have the right technology and the right team at this critical time, where we have the opportunity to reinvent the traditional ecosystem for a new asset class.

Brane provides institutions with a user-centric platform to manage their digital assets in terms of security, scalability and ease of use. But the real benefit that Brane brings to the market is the independence of the company. Brane is owned and operated separately from the exchanges where crypto is bought and sold, so safeguarding digital assets is their sole focus.

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Crypto has started to establish itself as an asset class. There’s no denying the growth. As it grows, traditional banks need to put in place the same kinds of mechanisms that we do with other traditional asset classes, says Dave Revell, board member and former global director of the bank. information from CIBC. Independent custodians are really important. An entity like Brane that is independent, but also has the highest quality in terms of underlying technological security and safety, is exactly the type of partner banks are looking for.

Lessons learned from the 2008 stock market crash strengthen Dwights’ perspective on independent custody. At the time, he was CEO of Canadian operations at Bank of New York Mellons, as the custodian bank played a key role in market stabilization and the administration of government assistance programs.

Exchanges offering custody have an inherent conflict of interest because of their divided purpose, Dwight explains. The exchanges are there to create a market for investors to buy and sell assets. In our opinion, crypto custodians should really only focus on having the right technology and risk management in place, and on the best people to keep digital assets safe.

Combining expertise from the worlds of blockchain, traditional banking and government, Branes’ management team is uniquely equipped to bring confidence and credibility to the developing crypto ecosystem. This is the key to navigating the evolving relationship between these worlds, towards a future where crypto assets have been widely adopted by the general public.

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Brane is a company born on the blockchain, so it doesn’t have to face the challenge of reusing old infrastructure. They have always used cutting edge technology, says Revell, who sees this as part of the company’s unique offering.

Coming from my experience as a CIO, people often ask me why a bank would want to buy a service like Branes instead of creating its own. I know from experience that most CIOs choose the buy rather than build strategy. Their role is to provide value and functionality. Both are available with a team like Brane. Their platform is easily integrated and secure, so opting for a pre-existing industrial solution like theirs is better to build something from scratch.

As demand for crypto in Canada grows and banks prepare to expand their management of digital assets, a critical moment in market regulation looms. Without concerted action, the Canadian market could see regulation lag behind investor participation.

Investment dealers have IIROC, banks have OSFI, and there are well-defined policies and procedures on who can do what activity. In Canada, one of the mandatory requirements as we build this new ecosystem should be to have an independent custodian. Currently, the dominant custodian in Canada is an American affiliate of the exchange. In the event of a liquidity crisis, this could have a devastating effect on the market, explains Dwight. But because the operational framework is still being designed in Canada, we have the opportunity to do it right.

For more information, visit brane.capital.

This story was created by Content Works, the business content division of Postmedias, on behalf of Brane Capital.

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