DMGGF - DMG Blockchain Solutions Announces Investment in Digital Asset Custody Solution | Benzinga
VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTC:DMGGF) (FRANKFURT: 6AX) ("DMG"), a vertically integrated blockchain and data center technology company, announces it has committed CAD $3.5 million to establish a Calgary, Alberta based independent digital asset custody solution for institutional clients.
The capital commitment is part of DMG's Core+ strategy and its mission to advance broader digital asset adoption by building credibility and trust in cryptocurrency and digital assets for investors. DMG will bring together secure institutional wallet solutions, strong insurance policies, rigorous risk management practices, best in class off-exchange liquidity as well as innovative OFAC compliant and carbon neutral blockchain solutions to meet institutional demand. The capital commitment for this digital asset custody solution will be made over time and as required to support the regulatory review process.
Systemic Trust Company Ltd. ("Systemic Trust") is a wholly owned subsidiary of DMG, which subject to regulatory approval, will provide regulated custody of digital assets to institutional clients such as financial institutions, asset managers, corporations and public sector organizations seeking to manage digital assets. Systemic Trust will be overseen by an experienced and diverse Board of Directors.
Systemic Trust's directors include:
Nevin Markwart, CFA, CFP - a successful investment industry CEO who built businesses emphasizing entrepreneurial and fiduciary cultures, employee ownership and a laser focus on the client. Nevin co-founded Canoe Financial and was previously the head of Canadian Equities for Fidelity.
Matt Torigian, MBA - a leader in policing and public administration in Ontario with a career that has spanned over 33 years in all aspects of community safety. Matt previously served as Ontario's Deputy Minister of Community Safety.
Caroline Troy, MBA, CBV - an expert in the Canadian capital markets at well-known North American full-service and boutique investment dealers. Caroline has substantial expertise in the valuation industry through her involvement in numerous mergers and acquisitions, valuation and fairness opinion assignments and financings.
John Place, LLB - an experienced domestic and international corporate lawyer with leadership and expertise in compliance and ethics. John is the Director of Compliance and Ethics of a Canadian federal Crown Corporation as well as an independent Board Director of DMG.
Sheldon Bennett, CFE, MBA - CEO and Director of DMG Blockchain Solutions and Chair of Systemic Trust.
Lawrence Truong, CFA, MBA - CEO of Systemic Trust.
Systemic Trust welcomes Arshie Cheema (MBA, BSc-Eng) as our new Chief Operations Officer. With over 25 years of experience in technical, architectural and operational leadership, Arshie is best positioned to deliver on our business objectives. Arshie served as an executive advisor, enhancing operational and security frameworks in cloud computing for two major-globals (TC Energy and Cenovus) while also playing a key strategic role for a significant O&G Merger & Acquisition. Most recently as Binance Canada's Chief Technology Officer, he spearheaded the implementation and launch of its Crypto Trading Platform and digital asset custody service. "I am both elated and humbled to lend my expertise to Lawrence and the team, hoping that it will be consequential towards advancing Systemic Trust's operational capabilities."
Systemic Trust welcomes Alvin Leung (MBA, MEM, BSc-CS) as Chief Revenue Officer. Alvin is an accomplished go-to-market (GTM) leader with over 20 years of experience across various leadership roles (in marketing, product and data) in technology ...