The company, which holds digital assets on behalf of clients, said in a release that the purchase of the Wyoming firm will let it expand its services to most U.S. states. The companies did not disclose the terms of the deal. (The Logic)

Talking point: Balance is one of three Canadian crypto firms registered as qualified custodians, or companies that can store and manage digital assets on behalf of financial institutions. Banks in both the U.S. and Canada are increasingly experimenting with crypto amid loosening regulations, creating demand for Balance’s services. In July, Balance started holding crypto in custody on behalf of customers with Alberta’s Bow Valley Credit Union, who can buy bitcoin directly through their accounts. The DVTR acquisition will let Balance help financial institutions launch products such as stablecoin issuance and payments, tokenized deposits and digital asset credit card payments, Balance said in a release.