Prosegur, the Spanish Security giant has joined the growing crypto league with the launch of its crypto custodian service Prosegur Crypto for institutional clients. Prosegur is based in Madrid and counted among the largest international security firms, it employees over 160,000 people worldwide. Its dive in the growing crypto custody market suggest the growing demand for digital assets among retail as well as institutional clients.
Prosegur’s crypto subsidiary would allow the clients to securely manage their digital portfolio through their mobile phones. The assets under custody would be secured via military-grade cryptographic and logical security layers and the private keys of the client’s wallet would be secured in a local facility without any internet connectivity.
Raimundo Castilla, CEO of Prosegur Crypto said that their entry as a crypto custodian would offer institutional investors a better and more secure option to manage their cryptocurrency portfolio. He said,
“Our platform satisfies a real and urgent need that exists today in the market. With this unique proposal, we offer a comprehensive and reliable custody solution with the level of protection and demand that companies and institutions demand”
The rise of bitcoin as a store of value has made it quite lucrative for the institutional clients who depends on crypto custodian services for the security as well as management of their funds. This has prompted in the rise of crypto custody services where major banks and financial institutions are increasingly showing interest in offering digital asset management services.
Prosegur being a mamoth name in the international security industry offers its services to a range of clients which include nancial entities, government agencies, funds and investment managers, family offices or trading platforms. The company promises that all the