Tetra Trust and Knox Form a Strategic Alliance to Bolster Crypto Custody Services

Tetra Trust updated that it has partnered with KNØX Capital Inc. and KNØX Industries Inc. (known as Knox). Tetra is providing institutions with the ability to store crypto-related products in a regulated environment.

Crypto wallets in Tetra are generated and held offline with FIPS 140-2 certified Hardware Security Modules. Through the strategic partnership, Tetra will be supplying its custody services to Knox's Canadian clients. Additionally, Tetra Trust will make use of Knox's insurance policies.

Custody services have great demand in Canada following crypto-related exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term-traded funds (ETFs). The solution that the companies are providing to the Canadian market is a regulated custody service that is based in Canada.

Knox is the only custody service in Canada that has a SOC 2 Type 2 certification.

Tetra Trust was founded in 2019, it is the first Canadian firm to be a qualified custodian for crypto assets. In July 2021, Tetra earned its Certificate of Registration from the Government of Alberta. Knox is providing insurance for financial institutions in the crypto markets against theft or loss.

Remarks on the Strategic Partnership

Eric Richmond, the CEO of Tetra Trust, is pleased with the partnership. “Tetra is excited to partner with Knox as they have been a Canadian pioneer in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term custody.

"The institutional market for a trusted secure custody provider for cryptocurrency continues to grow, and Tetra is uniquely positioned as the first and only trust company licensed to custody digital assets to serve this growing market."

Alex Daskalov, the CEO of Knox, said, “Canada has been a leader in Bitcoin's institutional adoption but has lagged with respect to qualified custodial services.

"Partnering with Tetra Trust is an important strategic move for Knox as it will bring our best-in-class insured custody infrastructure to new audiences.

"This is a big step forward in advancing the adoption of Bitcoin in Canada, and we look forward to serving institutional clients seeking the safest compliant option in the Canadian market."