Prosegur Crypto launches digital asset custody bunker in Brazil

Madrid, November 02  2023.- Prosegur Crypto, the institutional digital asset custody service of Prosegur Cash, is launching a Brazil-based digital asset custody bunker as part of its international expansion strategy. This will be the company's second crypto bunker, after one opened in Madrid in 2021. The initiative extends Prosegur Crypto’s reach throughout Latin America, consolidating its leadership in institutional digital asset custody. 

Helped by new regulatory frameworks in the region, the Latin American institutional cryptoasset sector continues to experience rapid growth, with the crypto bunker a perfect fusion between physical security and digital protection for financial institutions interested in offering cryptoasset custody services to their clients, as well as payment and trading services, thanks to Prosegur Crypto’s investment in Minos Global last May. 

The launch should see Brazil control 50% of Prosegur Crypto's global operations. This highly secure bunker is based on proprietary cold storage technologies, a unique solution that guarantees the highest levels of security, reliability and availability, ensuring the safety of high-value digital assets. 

All assets are stored entirely in cold wallets, keeping customers' private keys offline and without internet connection. The bunker will have more than 100 protection measures distributed in 6 layers of security in the chain of custody of digital assets. Thanks to a 1-1 custody based on blockchain technology, client assets are not used or moved for any purpose other than custody.

Welcoming the launch, José Ángel Fernández, Executive Chairman of Prosegur Crypto and Corporate Director of Innovation at Prosegur Cash, said: "This new crypto bunker marks a significant milestone for our company, as it expands our digital asset custody offering to Latin America, while maintaining the same excellence and expertise of our traditional custody service. Our priority is to guarantee the security of the assets, ensuring that at no time are they used for purposes other than their safekeeping." 

This milestone will now see Prosegur Crypto expand its custody service to all of Latin America, consolidating its position as a leader in the custody of digital assets and anticipating rising demand for security in an fast-growing industry.