Prosegur, a security firm, will construct a secure crypto bunker in Sao Paolo, Brazil, offering custody services for institutional crypto users.
Key Takeaways
- Prosegur, a Spain-based security company, is constructing a secure crypto bunker in Sao Paolo, Brazil.
- The bunker will offer custody services for institutional crypto users and will implement robust security measures.
- Security features include 24/7 monitoring, fog generators for defense against intruders, and restricted access for authorized personnel.
- Prosegur plans to leverage Brazil’s favorable digital asset regulations and expand its custody services to other countries in Latin America.
Prosegur, a renowned security and custody company, has unveiled plans to construct a highly secure crypto bunker in Sao Paolo, Brazil, catering to the needs of institutional crypto users. The move comes as part of Prosegur’s broader strategy to provide top-tier custody services for digital assets.
Crypto Custody Bunker
Jose Angel Fernandez Freire, the executive president of Prosegur Crypto, highlighted the advanced security measures that the bunker will incorporate. The facility will be equipped with an extensive surveillance system, comprising six security cameras monitored from two separate surveillance centers. Most notably, in the event of an intrusion, a rapid-response fog generator will envelop the crypto bunker in under 30 seconds, effectively immobilizing any potential attackers.
#Prosegur to Build #Crypto Bunker in #Brazil https://t.co/bCRWymNFN3
— Bitcoin.com News (@BTCTN) October 27, 2023
Describing the bunker’s structure, Freire emphasized that it will be an isolated room devoid of internet connectivity. Access will be restricted solely to authorized individuals who will oversee armed transport operations.
Regulation and Future
This initiative marks Prosegur’s second foray into the world of crypto custody, with the first bunker established in Madrid. The existing facility provides a secure environment for institutions to safeguard their digital assets, including prominent cryptocurrencies like Bitcoin. Additionally, Prosegur has its sights set on offering custody services for tokenized real-world assets (RWA) as the technology gains traction.
Prosegur’s decision to build a state-of-the-art crypto bunker in Brazil underscores the growing demand for secure custody solutions within the cryptocurrency industry. With Brazil’s favorable regulatory environment for digital assets, this move strategically positions Prosegur to tap into the burgeoning Latin American market.
To Conclude
By prioritizing security through advanced surveillance and innovative fog-based defense mechanisms, Prosegur is committed to providing its clientele with unparalleled protection for their valuable assets. Their strict adherence to asset segregation and their exclusive focus on serving legal entities further solidify their commitment to maintaining the highest standards of security and compliance.
As Prosegur expands its presence across Latin America, it anticipates further growth opportunities in countries with robust digital asset regulations, such as Chile. The company’s ambitious plan to establish two additional bunkers by the end of 2024 reflects its commitment to meeting the evolving needs of institutional clients in the ever-expanding crypto landscape.
