Canada’s Crypto Industry Turns to Alberta Government-Owned Bank

Crypto companies in Canada have found an unlikely ally — a bank owned by the Alberta government.

ATB Financial, a provincial crown corporation, has become one of the most reliable banking partners for the crypto and blockchain industry at a time when other financial institutions are refusing service — and when Alberta’s government is targeting billions more in revenue from blockchain firms.

“Crypto companies saw that Alberta is a business-friendly province, and so they started moving there and sort of lobbying for better requirements and for more access to banking,” said Eric Richmond, general counsel and head of business ...