Calgary’s Balance, Canada’s oldest and largest digital asset custodian, has unveiled Balance Settlements—a new product designed to enable immediate, off-chain delivery of digital assets between clients and their counterparties.
Balance Settlements streamlines bilateral settlement workflows and offers a scalable solution for platforms involved in crypto trading. The system is built around three core features:
- Unified Onboarding: Trading counterparties can be directly onboarded with Balance, each receiving designated wallets in their name and title for asset delivery.
- Direct Counterparty Access: End users can access and control their assets directly through a portal called Balance Now, bypassing reliance on the trading platform post-settlement.
- Off-Chain Settlements: Clients can deliver assets via ledger entries in real time, avoiding costly on-chain transaction fees.
To further mitigate risk in large transactions, Balance can act as a collateral manager through tri-party control agreements, ensuring pre-funded trading accounts are secure.
“The initial vision for this product was born in 2017 when Balance itself was searching for a custodian that can onboard end users and perform off-chain settlements,” said George Bordianu, CEO of Balance. “It took many years of sustained effort, but we can finally offer clients the infrastructure we couldn’t find back then.”
Chief Product Officer Nuno Silva highlighted the broader market potential: “With Balance Settlements, certain platforms… can build their products and operate without having to seek alternative registration or worrying whether the transaction itself could be recharacterized. We can’t be more excited to see what new businesses this infrastructure enables in the Canadian market and beyond.”
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