Decentralised Capital Launches Australia’s First Cryptocurrency Vault

Decentralised Capital Launches Australia’s First Cryptocurrency Vault

Blockchain and investment company Decentralised Capital has announced the launch of Australia’s first ever cold storage vault for digital assets. The vault was created in partnership with Custodian Vaults, a subsidiary of precious metals firm Pallion Group.

According to Stephen Moss, founder and director of Decentralised Capital, the new crypto vault is expected to take advantage of Australia‘s growing market for digital currency storage solutions, and it is a sign that bitcoin is a bona fide long term asset.

Cold Storage As The Future

Following a spate of high profile hacks at major exchanges, resulting in losses worth hundreds of millions of dollars, industry players have developed a heightened interest in cold storage, which ensures that private keys are stored offline and away from internet thieves. The new crypto vault by Decentralised aims to take advantage of this interest, marketing itself as Australasia’s first insured cryptocurrency vault.

Speaking in a recent interview with the Australian Financial Review, Moss alluded to the industry’s need for secure and reliable crypto custody services. Giving his thoughts on the crypto industry and explaining the problem his firm is solving, he said:

Cold storage is not a new concept, as it is employed by a large number of crypto holders using computer peripheral storage devices such as USB drives to store crypto wallets. Such devices, however, may remain  susceptible to hackers once they are connected to the internet, and even when offline, there is a physical theft risk.

According to Moss, the new Decentralised custody service gives its users direct access to their crypto funds using a combination of security measures including CCTV monitoring, physical surveillance, biometric identification, PIN codes, alarm systems and fire control systems.

Tailor-Made for Institutional Investors

Services such as the one launched by Decentralised Capital are tailor-made for institutional investors.

The service targets high net worth individuals, institutional investors, crypto exchanges, and ICO issuers, offering them all the advantages of cutting edge cold storage along with an in-house private WiFi room to permit safe inward and outward cryptocurrency transfers. In the event of a catastrophic failure of all defenses, all digital asset holdings are also insured.

CCN earlier reported that the bitcoin company Xapo uses a range of formidable cold storage security solutions including satellites, “deep” cold storage, and military grade bunkers spread out across five continents.

Having seen the growth statistics, Custodian’s parent company, Pallion, is now seeking to get in on the growing crypto custody market.

“While traditionally we have offered secure vault services for clients storing precious metals and other assets, we are increasingly receiving interest from clients searching for solutions to store cryptocurrency,” said Director Janie Simpson said.

Images from Shutterstock

• Join CCN's crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.
17.07.2018 / 18:45 43
Australian Firms Partner to Provide Crypto Custody Services Australian Firms Partner to Provide
Decentralised Capital, an Australian advisory firm specializing in blockchain assets” and asset management services, has announced a partnership with
Swiss-Based Company Offers Secure Cryptocurrency Storage In The Alps Swiss-Based Company Offers Secure
NEWSBitcoin News Swiss-Based Company Offers Secure Cryptocurrency Storage In The Alps Swiss Crypto Vault, a new cryptocurrency startup, aims to offer
The Swiss Alps Holds the Key to Storing Crypto Assets for Investors The Swiss Alps Holds the Key to Storing
Swiss Alps: A military-grade bunker has opened its vaults to permit wealthy cryptocurrency investors to securely store their coins. Think of the
Bitgo Launches Institutional Grade Custodial Services Suite Bitgo Launches Institutional Grade
This weekend the leading cryptocurrency security platform, Bitgo, announced the launch of custodial storage solutions for institutional investors.
Noble Bitcoin to Provide Insured Cold Storage for Crypto Investors Noble Bitcoin to Provide Insured Cold
A leading provider of cryptocurrency IRAs (individual retirement accounts) believes they might have found a solution to one of the barriers stopping
Gold Trading Giant Goldmoney Enables Cold Storage For Two More Cryptocurrencies Gold Trading Giant Goldmoney Enables
Goldmoney, a global gold-based financial services company, expands its crypto cold storage with two more cryptocurrencies. Goldmoney, the world's
Comments (0)
Add a comment
Comment on