| Source: Tetra Trust Company
Two Alberta-based fintech companies working together with Tetra providing the custodial infrastructure to Accelerate’s digital assets. Agreement includes custody for the new Accelerate NFT Fund, which is Canada’s first Web3 investment vehicle.
(GLOBE NEWSWIRE) — Accelerate Financial Technologies Inc. (“Accelerate”), a leader in alternative investment solutions, announced today it has selected Tetra Trust Company (“Tetra Trust” or “Tetra”) to custody Accelerate’s digital assets. Initially, the Accelerate NFT Fund LP (“Accelerate NFT Fund”), the first Web3 investment vehicle in Canada, will utilize Tetra’s custody solution which enables clients to store and settle their digital assets within a secure environment.
Calgary-based Accelerate is one of Canada’s fastest growing alternative investment solution providers, with a suite of alternative exchange-traded funds (“ETFs”), crypto ETFs and DeFi funds. The recently announced Accelerate NFT Fund taps into a global non-fungible token (“NFT”) market with $18 billion in trading volume in 2021, according to NonFungible.com, a Canadian analytics specialist.
“We are very pleased to enter into an agreement with Tetra Trust to offer institutional-caliber custody of our digital assets, including for our new NFT fund,” said Julian Klymochko, Founder and CEO of Accelerate. “Safe storage is paramount when investing in NFTs and Tetra’s custody solution provides clients with absolute confidence in the security of their digital assets.”
As Canada’s first qualified custodian for cryptocurrency and digital assets, Calgary-based Tetra enables Canadians to invest in cryptocurrencies and with absolute confidence in the safety and security of the underlying assets. By leveraging its partnership with Knox Custody, Tetra is able to offer the first institutional-grade custody solution for NFTs.
“Cryptocurrencies and digital assets such as NFTs are generating interest with investors who want such assets professionally managed, safe and secure, and fully compliant with regulations,” said Didier Lavallée, CEO of Tetra Trust. “Our custody solutions for investors provide all these features. We expect to provide custody for additional Accelerate digital asset offerings beyond the NFT fund as we further develop our relationship. Accelerate is a great partner with a strong background in this space as its management team also launched Canada’s first bitcoin fund in 2017.”
The innovation being shown by companies like Accelerate and Tetra has captured the interest of government at the federal and provincial levels.
Nate Glubish, Minister of Service Alberta, has long been a strong supporter of the digital assets sector. “The partnership between Accelerate and Tetra is very exciting, and is evidence of Alberta’s leadership in the crypto space. These two industry leaders are providing best-in-class products to Canadians, and I look forward to following along as they develop new investment products and provide more choice and convenience to those Albertans interested in the digital asset space.”
The Accelerate NFT Fund will own a diversified portfolio of “blue chip” NFTs, including collections such as CryptoPunks and Bored Ape Yacht Club. NFTs are a new type of crypto asset that combine digital art with elements of blockchain and social networks. Accelerate NFT Fund is available for accredited investors via private placement subscription.
About Tetra Trust
Founded in 2019, Tetra Trust Company is Canada’s First Qualified Custodian for cryptocurrency and digital assets. Tetra received its Certificate of Registration from the Government of Alberta on July 5, 2021 and meets the definition of a qualified custodian under National Instrument 31-103 Registration Requirements, Exemptions, and Ongoing Registrant Obligations. The Company is backed by Coinsquare, Canada’s premier cryptocurrency exchange digital asset trading platform; Coinbase Ventures, an investment arm of Coinbase which is the largest publicly traded cryptocurrency exchange in the world; the Canadian Securities Exchange; Mogo Financial Inc.; Urbana Corporation; and others. Led by a first-class team of security and business experts and a Board of Directors with extensive trust company experience, Tetra delivers the most advanced digital asset storage technology in the industry. This includes offering Knox Custody’s insured custodial infrastructure for institutional clients.
For further information visit www.tetratrust.com.
About Accelerate Financial Technologies
Accelerate is one of Canada’s most innovative and fastest-growing alternative investment solution providers, with a suite of hedge fund ETFs, crypto ETFs and DeFi funds for investors seeking diversification and long-term performance.
Accelerate is empowering investors. Find out more at www.AccelerateShares.com.
Tetra Trust Company
Didier Lavallée, CEO
Accelerate Financial Technologies
Julian Klymochko, Founder and CEO
For further information: For investor inquiries: Contact Accelerate at 1-855-892-0740 (toll-free), email@example.com; For media inquiries: Contact Michael Lee Hing, COO, Accelerate, (403) 975-5294, firstname.lastname@example.org.