Odaily Planet Daily News According to official news, DeFi company Wellfield Technologies signed a definitive agreement with Brane Inc. and its wholly-owned subsidiary Big Index Inc. to acquire all issued and outstanding securities of Brane Trust, including $8.4 million in convertible bonds , a cash payment of $150,000, and the assumption and payment of approximately $90,000 of Brane Trust's outstanding debt. Brane Trust will operate independently under Wellfield's ownership.
It is reported that Brane Trust is a wholly-owned subsidiary of Brane Inc., a trust company regulated by the Alberta Finance Commission and the Ministry of Finance of Canada for the purpose of digital asset custody. Launched in October 2021, the Brane Trust is currently in the process of being registered with the Alberta government, and once completed, the Brane Trust will become a regulated digital asset custodian.