Decentralised Capital, a blockchain and investment company, in partnership with Custodian Vaults has launched the first digital assets cold storage vault in Australia. Custodian Vaults is a subsidiary of Pallion Group, a precious metals company.

Growing demand for crypto storage services

In a statement, Stephen Moss, the founder and director of Decentralised Capital, stated that there has been an increase in demand for virtual currency storage services in Australia. He says that the new crypto vault is expected to tap into this growing demand. The move is also a recognition that Bitcoin is a long term asset.

Crypto has revolutionized the global financial system and economy. These developments have come at the backdrop of several challenges that have almost brought the sector to its knees. Many of the current innovations in the sectors are focused on improving security and boosting investor confidence. With millions of dollars stolen every month through cryptocurrencies, demand for storage services is on the rise.

Decentralised Capital has taken safety and security to another level by launching the first cryptocurrency vault in Australia. According to Moss, the vault has been designed in a way that it will accommodate the needs of the next phase of the industry.

Moss noted that despite the cryptocurrency sector presenting many opportunities, the custodial company has confined itself to offering security and reliability. There are already several crypto users who have cold storage facilities. Many of these devices come in form of USB and are exclusively used to store digital currencies

Targeting institutional investors

This service mainly targets ICO issuers, crypto exchanges, institutional investors and wealthy individuals. The vault comes with high innovative cold storage facilities and an in-built WiFi room, which facilitate inward and outward transfer of digital assets.

Xapo is another Bitcoin company that is known to use cold storage security solutions. The company has “deep” cold storage, satellites and military grade bunkers in five continents.

With statistics showing growing interest in custody services, Pallion seems to be moving quickly to tap into the opportunity. Director, Janie Simpson, said that the company has in the past offered custodial services to precious metals and other assets. He added that the company has received a lot of interest from cryptocurrency companies.