Brane has signed a letter of intent with capital-pool company Timeless Capital for a reverse takeover, pending regulatory approvals. (The Logic)
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Brane has signed a letter of intent with capital-pool company Timeless Capital for a reverse takeover, pending regulatory approvals. (The Logic)
Talking point: Brane is working to become Canada’s first qualified custodian for digital assets. Canadian financial institutions are required to put their assets under the care of a qualified custodian, with Gemini currently the only company approved to offer the service for cryptocurrencies. Having a Canadian qualified custodian for digital assets could open the door to banks holding and trading them. Competitor Knox Capital had previously entered into an agreement with Olympia Financial to become a qualified custodian for digital assets, but that agreement fell apart earlier this month. Brane’s valuation could be up to $100 million once it goes public, sources told The Globe and Mail.
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