The Hong Kong-based investment holding company China Group (BC Group) are launching a secure storage service for cryptocurrencies, according to a press release.
BC Group, which owns a portfolio of various blockchain companies, including the Anxone cryptocurrency trading platform and the OSL digital assets broker, said it decided to create a service to meet the needs of institutional investors in Asia.
His release, he said, is the first such insured solution for storing cryptoactive assets available locally, but will use insurers from the UK.
“The BC Group custody service removes one of the key barriers that have so far prevented professional traders and institutions from adding digital assets to their portfolios,” says Hugh Madden, chief technology officer, in a press release.
“These traders can only trade on exchanges that comply with strict regulatory and fiduciary recommendations and meet high standards of compliance and security. Insured storage is a vital component in complying with these standards. ”
BC will benefit from a growing market for institutional investors that will expand globally in 2019.
This year, the debut of such products as the Bakkt trading platform, which will offer investors various tools related to cryptography, starting with physically set bitcoin futures, will take place.