DMG Announces Systemic Trust's Registration as a Digital Asset Trust Company

DMG Blockchain Solutions has received registration for its wholly owned subsidiary, Alberta-based, Systemic Trust Company, to operate as a special purpose trust company under the Loan and Trust Corporations Act with Alberta’s Treasury Board and Finance.

Lawrence Truong, CEO of Systemic Trust, remarked, "We are grateful to our parent company, DMG, for its unwavering support throughout this process and for providing the capital needed to operate as a Qualified Custodian. We extend our thanks to our regulators for their efforts and guidance, which made the licensing process so efficient. Receiving our certificate of registration marks a significant milestone that will enable us to increase the adoption of blockchain technology and build trust in the Canadian cryptocurrency ecosystem by offering a highly secure, independent custody solution. Alberta's pragmatic, open-for-business attitude attracts talent, innovation and fintech companies like Systemic Trust to establish its headquarters in the province. We are proud to be part of Alberta's vibrant and growing technology sector. With crypto-friendly regulatory changes underway beyond our borders, our team is preparing for what we believe will be greater adoption of our services in Canada."

Nate Horner, President of Treasury Board and Minister of Finance, remarked, “The registration of Systemic Trust Company marks another exciting milestone for Alberta’s growing financial services sector, giving investors more options to secure cryptocurrency. Alberta continues to lead the way in driving innovation and creating the ideal environment for forward-thinking companies to thrive. With the support of our financial services concierge, innovative businesses can efficiently navigate regulations and establish themselves in the province. By fostering growth in this dynamic sector, we are attracting investments, creating new opportunities for Albertans and building a stronger, more innovative economy.”

Sheldon Bennett, DMG’s CEO, added, “This milestone is an important achievement towards realizing the full potential of DMG’s Core+ software and services strategy. We are proud of the team at Systemic Trust for successfully navigating the complexities of delivering the licensing for this prudentially regulated business and grateful for our shareholders’ support. Systemic Trust is proud to be the only Canadian Qualified Custodian to leverage Fireblocks' industry-leading wallet infrastructure. Recognized globally as the foremost institutional-grade wallet platform, Fireblocks has managed over 250 million wallets and secured the transfer of more than $6 trillion in digital assets. This collaboration positions Systemic Trust as the trusted choice for Canadian institutions seeking a secure, compliant and scalable digital asset custody solution.”

About Alberta's Treasury Board and Finance

Alberta's Treasury Board and Finance (“ATBF”) is a key ministry within the Government of Alberta, Canada, responsible for overseeing the province's financial and economic affairs. ATBF regulates loan and trust corporations under the Loan and Trust Corporations Act, which sets requirements for registration, operation, and supervision to ensure soundness and consumer protection. ATBF authorizes the registration of special purpose trusts as Qualified Custodians for digital assets. Through regulatory oversight, ATBF aims to maintain the integrity and stability of Alberta's financial system.

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