Australian Firms Partner to Provide Crypto Custody Services
Decentralised Capital, an Australian advisory firm “specializing in blockchain assets” and “asset management services,” has announced a partnership with Custodian Vaults, an Australian private vaulting company, to offer insured cryptocurrency custody services to the Australasian market.
Decentralised Capital and Custodian Vaults Partner to Provide Cryptocurrency Custody Services
It has been announced that Decentralised Capital and Custodian Vaults are teaming up to provide insured cryptocurrency custody services in the form of what the companies are describing as Australia’s first insured cryptocurrency vault
According to According to Australian Financial Review, Stephen Moss, Decentralised Capital’s founder and the son of former Macquarie Bank property chief, Bill Moss, described the project as seeking to provide “a solution for the next phase of the industry” adding “it gives real security […] You can’t hack your way into the safe.”
Mr. Moss emphasized that his company is hoping to ride the cryptocurrency boom for the long-haul, stating:”In my opinion bitcoin will not be remembered as the bubble, but the pin. While the short-term future of bitcoin may be debatable, the blockchain and its benefits are not.”
The founder of Decentralised Capital stated that “the new vault provide[s] customers [with] direct access to their holdings and combined physical surveillance, biometric identification, pin codes, CCTV monitoring, alarm and fire control systems.” Additionally, the vault premises “also house a private Wi-Fi room to allow cryptocurrency transfers in and out.”
Custody Services Aimed at Crypto High Rollers
The companies’ vault services will is expected to predominantly target institutional and wealthy investors, in addition to cryptocurrency exchangers and issuers of initial coin offerings. Mr. Moss has stated that the digital currencies held in the companies’ possession insured, however, did not provide the insurance provider’s name.
Janie Simpson, the director of Pallion – a precious metals firm that owns Custodian Vaults, described the company’s decision to enter into the cryptocurrency custody industry as having been spurred by growing customer demand.
“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,” Mrs. Simpson said.
Do you feel that cryptocurrency investors are in need of a greater array of custodianship services? Share your thoughts in the comments section below!
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