Prosegur, a major Spanish security services company, is opening a crypto-custodial service for institutional investors.
"Prosegur Crypto combines the highest standards of physical security, an area in which Prosegur is a global leader, with advanced technologies for cryptographic security," the firm wrote in a press release. - Users ' private keys are stored in the physical infrastructure of Prosegur, without an Internet connection. Stored assets are protected by army-level cryptography and logical security."
To manage cryptocurrency assets, clients are invited to use a mobile application. The company claims that its cryptocurrency storage solution is "the most secure and complete on the market and stands out from all other existing custodial services."
Prosegur names financial institutions, government agencies, investment funds, family capital management firms, and exchanges as potential users of The service.
"Few institutional custodians can provide the necessary level of protection. Prosegur Crypto intends to lead this market as the safest and most reliable partner for institutional investors, " said Prosegur Crypto CEO Raimundo Castilla.
Prosegur was founded in 1970 and has over 160,000 employees. The company's revenue for 2019 was $5 billion.