Hong Kong-based BC Group Offers Insured Custody for Crypto Assets in Asia

April 18, 2019

Hong Kong-based trading and asset management company Branding China Group (BC Group) has announced in a press release shared with Cointelegraph that it will introduce an insured custody solution for investors in Asia dealing in cryptocurrencies.

BC Group is the first firm to make custody solutions available to crypto assets in the region. The firm revealed that the move was made to cater to the increasing demands of investors in Asia, although it will be using insurers based in the United Kingdom.

The company already specializes in crypto assets, as it holds a portfolio of several blockchain companies and crypto exchanges such as OSL and Anxone.

BC Group’s Chief Technology Officer Hugh Madden said in a statement that the firm’s custody service removes one of the key barriers that has been preventing professional traders and institutions from adding digital assets to their portfolios.

According to Madden, these traders are now offered an insured custody component that will allow traders to transact on “exchanges that align with strict regulatory and fiduciary guidelines and meet high compliance and security standards”.

He added, “BC Group route all incoming digital asset transfers directly to cold storage and advocate this as the industry standard.”

BC Group revealed that its solutions will facilitate institutional investors, who are looking to put more funds into the crypto market this year.

Other products relating to the growing crypto market slated to be launched in the near future include the platform Bakkt, which is set to provide cryptocurrency instruments, such as Bitcoin futures.

Source: www.cointelegraph.com

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