According to ChainCatcher, DeFi company Wellfield Technologies has signed a final agreement to acquire all issued and outstanding securities of Canadian digital asset custody company Brane Trust, including $8.4 million in convertible bonds, $150,000 in cash, and the assumption and payment of approximately $90,000 in outstanding debt of Brane Trust.
It is reported that Brane Trust is a wholly-owned subsidiary of Brane Inc. and is a trust company for the purpose of digital asset custody regulated by the Alberta Finance Commission and the Ministry of Finance of Canada. Brane Trust was established in October 2021 and is currently being registered with the Alberta government. Once completed, Brane Trust will become a regulated digital asset custodian.
