BC Group unveils the offer of insured custody for Asia-based Crypto investors

The Hong Kong trade and asset management firm Branding China Group (BC Group) launches an insured cryptocurrencies custody service, the company confirmed in a press release shared with Cointelegraph on April 1.

BC Group, owner of a portfolio of various blockchain companies, including cryptocurrency trading platform Anxone and digital asset brokerage OSL, said it decided to build the service to meet the needs of institutional investors in Asia.

The release, it says, is the first such insured custody solution for crypto assets available locally, but will use UK-based insurers.

"The BC Group custody service removes one of the key obstacles that have so far prevented professional traders and institutions from adding digital assets to their portfolios," said Hugh Madden, chief technology officer of the company. press release. He added:

"These traders can only execute transactions on exchanges that are in compliance with strict legal and fiduciary guidelines and meet high compliance and security standards. Secured custody is an essential component to meet these standards."

"BC Group routes all incoming digital asset transmissions directly to cold stores and advocates that this be considered the industry standard," adds Madden, following the practices of custody companies such as Xapo from Switzerland.

BC will benefit from the fast-growing institutional investor market that wants to expand more globally in 2019.

As Cointelegraph reported, the debut of products should appear this year, such as trading platform Bakkt, which will offer various crypto-related tools to investors, starting with physically supplied Bitcoin futures.

Last year, Cointelegraph also noted the increasing trend in insurance options for companies in the cryptocurrency industry.

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