Another international security services behemoth has taken the crypto plunge, with Spanish firm Prosegur launching a dedicated subsidiary that will offer crypto custody services. Prosegur — a Spanish security company founded in the 1970s — announced a new digital asset custody service focused on institutional clients.

“Prosegur Crypto combines the highest standards in physical security, an area in which Prosegur is a world leader, with state-of-the-art cryptographic security technologies,” the firm said in a press statement. “Users’ private keys are stored in a physical Prosegur infrastructure, without an Internet connection, and the guarded assets have military-grade cryptographic and logical security layer protection.”

“Our platform satisfies a real and urgent need that exists today in the market. With this unique proposal, we offer a comprehensive and reliable custody solution with the level of protection and demand demanded by companies and institutions”, said the CEO of Prosegur Crypto, Raimundo Castilla. “Few institutional custodians are able to provide an adequate level of protection. Prosegur Crypto aims to lead this market as the safest and most reliable partner for institutional investors.”

Prosegur is the first global security company to enter the crypto asset market and offer a comprehensive custody model and service, including one of the broadest insurance policies in the digital market.

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