VANCOUVER, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a leading independent data center technology and blockchain solutions provider, has received registration for its wholly owned subsidiary, Alberta-based, Systemic Trust Company (“Systemic Trust” or "STC"), to operate as a special purpose trust company under the Loan and Trust Corporations Act (Alberta) with Alberta’s Treasury Board and Finance (“ATBF”).
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. In addition to its roles in budget planning, financial management and economic analysis, ATBF regulates various financial sectors, including loan and trust corporations operating within Alberta. ATBF's regulatory framework for loan and trust corporations is established under the Loan and Trust Corporations Act. This legislation sets out the requirements for registration, operation and supervision of these entities to ensure their soundness and the protection of consumers. ATBF's regulatory activities authorize the registration of special purpose trusts under the Loan and Trust Corporations Act, enabling them to serve as a Qualified Custodian for digital assets. Through such regulatory oversight, ATBF aims to maintain the integrity and stability of Alberta's financial system, fostering a secure environment for both financial institutions and consumers.
About DMG Blockchain Solutions Inc.
DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon neutral Bitcoin ecosystem, which enables financial institutions to move bitcoin in a sustainable and regulatory compliant manner.
For additional information about DMG Blockchain Solutions and its initiatives, please visit www.dmgblockchain.com. Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Tel: +1 (778) 300-5406
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Investor Relations:
investors@dmgblockchain.com
For Media Inquiries:
Chantelle Borrelli
Head of Communications
chantelle@dmgblockchain.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, the development of Systemic Trust and the expected outcomes and benefits, delivering products that enable the monetization of bitcoin transactions, developing and executing on the Company’s products and services, increasing self-mining, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hash rate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hash rate mining difficulty.
Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG's bitcoins; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
