DMG Blockchain Solutions announces investment in digital asset custody solution

DMG Blockchain Solutions has committed CAD $3.5 million to establish a Calgary, Alberta based independent digital asset custody solution for institutional clients. The capital commitment is part of DMG’s Core+ strategy and its mission to advance broader digital asset adoption by building credibility and trust in cryptocurrency and digital assets for investors. DMG will bring together secure institutional wallet solutions, strong insurance policies, rigorous risk management practices, best in class off-exchange liquidity as well as innovative OFAC compliant and carbon neutral blockchain solutions to meet institutional demand. The capital commitment for this digital asset custody solution will be made over time and as required to support the regulatory review process. Systemic Trust Company is a wholly owned subsidiary of DMG, which subject to regulatory approval, will provide regulated custody of digital assets to institutional clients such as financial institutions, asset managers, corporations and public sector organizations seeking to manage digital assets. Systemic Trust will be overseen by an experienced and diverse Board of Directors. Systemic Trust welcomes Arshie Cheema as our new Chief Operations Officer. With over 25 years of experience in technical, architectural and operational leadership, Arshie is best positioned to deliver on our business objectives. Arshie served as an executive advisor, enhancing operational and security frameworks in cloud computing for two major-globals while also playing a key strategic role for a significant O&G Merger & Acquisition. Most recently as Binance Canada’s Chief Technology Officer, he spearheaded the implementation and launch of its Crypto Trading Platform and digital asset custody service. Systemic Trust welcomes Alvin Leung as Chief Revenue Officer. Alvin is an accomplished go-to-market leader with over 20 years of experience across various leadership roles in technology and tech-enabled industries. In addition to previously serving as the Head of Growth at Matic Insurance and a GTM leader at Meta Platforms, Alvin most recently led Growth and Marketing at database technology vendor Vaticle, where he successfully implemented a product-led growth GTM strategy targeting tenured software engineers. Systemic Trust welcomes Alessandro Tocco as Chief Compliance Officer. Alessandro leverages over 13 years of regulatory compliance, investigations and AML expertise. He spearheaded Binance Canada’s anti-money laundering/anti-terrorist financing compliance program, creating comprehensive ML/TF risk controls and initiating a transaction monitoring program aligned with FINTRAC and FATF guidelines. In addition to overseeing the Trade Surveillance program at Bank of America and serving as a securities investigator at the Alberta Securities Commission, Alessandro also served as Deputy Money Laundering Reporting Officer (MLRO) at Irish Progressive Services International Limited, where he collaborated closely on anti-money laundering and counter-terrorist financing matters. Lawrence Truong will be leading Systemic Trust as Chief Executive Officer, leveraging his 25 plus years of experience in the capital markets, expertise in regulatory compliance, extensive network and relationships that meet the compliance requirements expected by regulators and financial institutions alike.