Tuesday, February 18, 2020

Newton Crypto to Move Customer Assets to an Independent Third-party Custodian

Avatar
Business Wirehttps://www.businesswire.com
(c)2018 Business Wire Inc., All rights reserved. For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure. For the last half century, thousands of communications professionals have turned to us to deliver their news to the audiences most important to their business through the sources they trust most. Over that time, we've gone from a single office with one full time employee to more than 500 employees in 32 bureaus.

Industry leading cryptocurrency brokerage implements additional financial controls to ensure the security of customer funds

TORONTO–(BUSINESS WIRE)–Newton Crypto Ltd. (“Newton”), Canada’s first commission-free cryptocurrency brokerage, announced today that it has entered into an agreement with digital asset custodian Balance to hold and secure Newton customers’ cryptocurrency assets. As part of the agreement, Balance will act as a third-party custodian and wallet provider for all of Newton’s customers.

“Ensuring the security of our customers’ assets is a top priority,” said Dustin Walper, CEO of Newton. “As the Canadian cryptocurrency market expands and matures, Newton is leading the way in implementing the financial controls that will safeguard the security and transparency of all customer funds. We know that some customers are concerned that what happened at Quadriga last year could happen again, and we want them to rest assured that it can’t happen at Newton.”

Newton is the first cryptocurrency platform to partner with a Canadian custodian. Customers can feel safe in knowing that Newton will store their funds with a custodian that offers the same controls and standard of care found in traditional financial sectors, allowing cryptocurrencies they hold to compete with other commodity asset classes, such as gold or oil.

“We’re extremely pleased to be working closely with Newton,” commented George Bordianu, Co-founder and CEO of Balance. “Balance is committed to promoting the need for strong financial controls and regulatory supervision for the local digital asset ecosystem, and Newton has demonstrated a commitment to this same vision.”

“This step will also ensure that customers will no longer need to know the ins and outs of cryptocurrency just to purchase and store it safely,” added Mr. Walper. “The transparency and security that an independent custodian offers will allow our customers to feel confident in the safety of their investment.”

About Newton Crypto Ltd.

Newton Crypto is Canada’s first commission-free cryptocurrency brokerage, with no funding or trading fees. Newton supports Bitcoin, Ethereum and Litecoin, with additional currencies to be added soon. Founded in 2018, Newton offers live trading on its platform, with trading volume growing 30 percent month over month since inception.

Contacts

Wynn Theriault, Thirty Dash Communications

416-710-3370

wynn@thirtydash.ca

(c)2018 Business Wire Inc., All rights reserved.
Original Release: Business Wire

Latest News

Samsung Could Become the Biggest Driver of Bitcoin’s Adoption

Samsung, a South Korean multinational conglomerate could potentially become one of the biggest drivers of Bitcoin's and Blockchain’s adoption....

OneConnect Announces Fourth Quarter and Full Year 2019 Unaudited Financial Results

Revenue Growth of 51% in the Fourth Quarter and 65% for the Full Year Premium Customer Number Increased from 221 to 473 for the...

Most Bearish Bitcoin Countries

Bitcoin has surged significantly in 2020 and its adoption has also increased. However, some countries are trying too hard to discourage their citizens from...

Love is in the air at Fair Go Casino

One lucky player will be one of the first to receive a Samsung Galaxy S20 Ultra smartphone after entering the popular online casino’s Valentine’s...

BitGo Acquires Digital Securities Platform Harbor

BitGo Extends Digital Asset Capabilities to Include Digital Securities PALO ALTO, Calif.--(BUSINESS WIRE)--#cryptocurrencies--BitGo, the leader in digital asset financial services, announced today that it is...
- Advertisement -