Tetra Trust Chosen by Wealthsimple to Custody Digital Assets
TORONTO--(BUSINESS WIRE)-- Tetra Trust, Canada's first regulated digital asset custodian, today announced it has been selected by Wealthsimple, the country's first regulated crypto trading platform, to provide digital asset custody services.
'Tetra Trust has a solid track record, and is committed to keeping assets in Canada — all of which make them ideal to custody and protect our clients' assets as we continue to expand our offering.' said Blair Wiley, CLO at Wealthsimple.
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Tetra Trust will act as one of Wealthsimple's custodians for digital assets, marking the first time Wealthsimple has added a Canadian custodian to its roster. Wealthsimple will utilize Tetra Unity, Tetra Trust's institutional-grade orchestration platform, to streamline digital asset custody, execution, settlement, compliance, and risk management.
'As digital assets grow into a more established part of the financial system, it's become increasingly important for us to diversify our custody partners by adding a trusted, regulated Canadian custodian,' said Blair Wiley, Chief Legal Officer at Wealthsimple. 'Tetra Trust has a solid track record, takes regulation seriously, and is committed to keeping assets in Canada — all of which make them ideal to custody and protect our clients' assets as we continue to expand our offering.'
This partnership, which is subject to approval by the Canadian Investment Regulatory Organization, brings together two of Canada's digital asset pioneers. Wealthsimple launched its crypto offering in 2020 and today supports more than 90 cryptocurrencies, giving retail investors a trusted space to buy, sell, swap and stake cryptocurrency. Tetra Trust, Canada's first regulated custodian, gives platforms like Wealthsimple the ability to securely store digital assets on home soil - strengthening the foundation of a trusted, made-in-Canada crypto ecosystem.
"Wealthsimple has consistently led innovation in Canadian financial services, and this partnership represents a significant milestone for both companies," said Didier Lavallée, CEO of Tetra Trust. "By combining Wealthsimple's trusted consumer platform with our institutional-grade custody solutions, we're creating a more secure and accessible digital asset ecosystem for Canadians."
This strategic collaboration marks an exciting chapter in Canada's digital asset landscape — secure, compliant and homegrown solutions built by Canadian companies, for Canadian investors.
Key Benefits of Tetra
Enhanced Security: Digital assets are held in segregated custody accounts in cold storage with institutional-grade protections
Regulatory Compliance: Partnership with a qualified custodian meets the highest regulatory standards
Streamlined Operations: Unified workflow management across the full digital asset lifecycle
Canadian Centricity: Assets are held in Canada, under Canadian regulatory oversight
For more information, visit www.tetratrust.com.
About Tetra Trust
Founded in 2019, Tetra Trust is Canada's first trust company licensed to custody digital assets. Tetra received its Certificate of Registration from the Government of Alberta in 2021. Tetra also operates Unity, the world's first composable digital asset orchestration platform. The Company is backed by Urbana Corporation, the Canadian Securities Exchange, Icebook and Coinbase Ventures. Led by a first-class team of security and business experts and a Board of Directors with extensive financial infrastructure and technology experience, Tetra delivers the most modular digital asset capabilities in the industry. To learn more, visit www.tetratrust.com.
About Wealthsimple
Wealthsimple is one of Canada's fastest growing and most trusted financial services platforms. The company offers a full suite of simple, sophisticated financial products across managed investing, do-it-yourself trading, cryptocurrency, tax filing, spending and saving. Wealthsimple currently serves 3 million Canadians and holds over $70 billion in assets. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto, Canada. To learn more, visit www.wealthsimple.com.
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