November 16, 2022 09:00 ET | Source: Tetra Trust Company; Accelerate; Ledger Tetra Trust Company; Accelerate; Ledger
Calgary, Alberta, CANADA
Accelerate NFT Fund, launched in 2022, is Canada’s first Web3 investment vehicle. Its development points to additional opportunities in blockchain-related investing. The NFT Fund is supported by Canadian crypto custodian Tetra Trust and uses Ledger Enterprise to ensure safe and secure storage of the Fund’s digital assets.
CALGARY, Alberta, Nov. 16, 2022 (GLOBE NEWSWIRE) — Accelerate Financial Technologies Inc. (“Accelerate”), one of Canada’s fastest growing alternative investment solution providers, announced it has recently acquired five “blue-chip” non-fungible tokens (“NFTs”) for its Accelerate NFT Fund LP (“Accelerate NFT Fund”). The Fund’s NFTs and cryptocurrency are securely stored in Tetra Trust Company’s custody solution.
As Canada’s first Web3 investment vehicle, the Accelerate NFT Fund was launched on July 29, 2022, to provide investors exposure to the NFT market. NFTs are a new cryptocurrency asset that combines digital art with blockchain, culture and social network elements. The NFT market recorded US$1.6 billion in traded volume in the third quarter of 2022, according to Canadian analytics specialist NonFungible.com. As these assets continue to mature and gain in popularity, investors demand that digital assets be professionally managed, safely and securely, and be fully compliant with regulations.
“Web3 represents the next era of the internet, and NFTs allow users not just to participate but also own Web3. The safe storage and secure custody of these digital assets is vital to more investors participating in such high-growth Web3 investment opportunities. That is why Accelerate has partnered with the Canadian crypto custodian Tetra Trust and uses the digital asset wallet management solution called Ledger Enterprise to provide clients with institutional-grade custody for their digital assets,” said Julian Klymochko, Founder and CEO of Accelerate.
Accelerate has been pleased with the growth and the interest investors have shown in the new NFT Fund. This interest comes at a time when the NFT market has been challenged in terms of the safety and security of such crypto assets. Accelerate believes in the long-term potential of NFTs and sees opportunities for additional asset classes to be added to the blockchain. Accelerate is working with Tetra Trust and Ledger to map out strategies to safely bring these assets to investors in the near term.
“Tetra Trust is Canada’s first qualified custodian for cryptocurrency and digital assets, and our goal is to provide Accelerate and its clients with absolute confidence in the safety and security of the underlying assets. We offer institutional-grade custody solutions for these NFTs and will do so for the additional Web3 products that Accelerate chooses to bring to the market,” said Didier Lavallée, Tetra Trust’s CEO.
Tetra Trust is currently partnering with Ledger Enterprise for secure information technology infrastructure for Web3 products whereas Tetra had previously relied on Knox Custody.
“Ledger Enterprise provides the state-of-the-art security technology that protects Accelerate’s digital assets. Bringing security at scale, we enable organizations to advance safely into the NFT asset class as it moves beyond collectibles. Our multi-authorization hardware-based solution gives institutions and investors the ability to enter the Web3 space with confidence,” said Kelly Moran, Lead Relationship Manager for Ledger Enterprise.
The Accelerate NFT Fund owns a diversified portfolio of blue chip NFTs, including collectibles such as CryptoPunks and Bored Ape Yacht Club. Accredited investors are encouraged to contact info@accelerateshares.com for information about the Fund.
About Accelerate
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 Web3 funds for investors seeking diversification and long-term performance. Accelerate is empowering investors. Find out more at www.AccelerateShares.com.
About Tetra Trust
Founded in 2019, Tetra Trust is Canada’s first and only trust company licensed to custody 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 and National Instrument 81-102. The Company is backed by Coinsquare, Canada’s premier cryptocurrency exchange digital asset trading platform; Coinbase Ventures, an investment arm of Coinbase which is one of the world’s largest publicly traded cryptocurrency exchanges; 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. For further information visit www.tetratrust.com.
About Ledger
Founded in Paris in 2014, LEDGER is a global platform for digital assets and Web3. Ledger is already the world leader in Critical Digital Asset security and utility. With more than 5M devices sold to consumers in 200 countries and 10+ languages, 100+ financial institutions and brands as customers, 20% of the world’s crypto assets are secured, plus services supporting trading, buying, spending, earning, and NFTs. LEDGER’s products include: Nano S Plus, Nano X hardware wallets, LEDGER Live companion app, [ LEDGER ] Market, the world’s first secure-minting and first-sale distribution platform, and Ledger Enterprise. With its ease of use, LEDGER allows a user to begin investing in digital assets and ultimately, achieve financial freedom in a safe and stress-free environment.
Contacts
Accelerate Financial Technologies
Julian Klymochko, Founder and CEO
Email: info@accelerateshares.com
Tetra Trust
Didier Lavallée, CEO
Email: press@tetratrust.com
Ledger Enterprise
Kelly Moran, Lead Relationship Manager
Email: media@ledger.com
