Prosegur Crypto Opens Argentina’s First Cold Storage Crypto Bunker
Buenos Aires, Argentina – Prosegur Crypto, the institutional digital asset custody service of Prosegur Cash, has officially launched the first cold storage crypto bunker in Argentina, marking the company’s significant expansion in Latin America. This eco-efficient facility is the second of its kind in the region, following the establishment of a similar bunker in Brazil.
Advanced Security Measures
Designed to offer a high level of security, the cold storage vault employs cutting-edge technology to safeguard institutional digital assets that are deliberately kept disconnected from the internet. This approach is a critical response to the alarming rise in losses resulting from hacks and online thefts, which can often reach into the millions of dollars. The construction of this specialized facility is part of Prosegur Crypto’s broader commitment to professional and secure asset custody.
The new bunker in Buenos Aires mirrors the company’s previous facilities opened in Madrid, Spain, in 2021, and São Paulo, Brazil, in 2023, reinforcing Prosegur’s reputation as the first global security firm to venture into the crypto asset market. With the recent authorization acquired from Argentina’s National Securities Commission (CNV), Prosegur Crypto is well-positioned to operate within the Argentine market.
State-of-the-Art Cold Storage
The cold storage vault, often referred to as a ‘bunker’ due to its stringent security protocols, utilizes patented technologies to ensure the security and reliability of high-value digital assets. All digital assets will be stored exclusively in cold wallets, keeping clients’ private keys offline and ensuring they remain impervious to online threats. The bunker boasts over 100 protective measures across six layers of security to maintain the integrity of the custody chain. This ensures that the assets are never utilized or moved for any purpose other than secure custody.
Additionally, the facility is equipped with technological mechanisms that allow clients to quickly access their digital assets automatically and securely.
Commitment to Digital Asset Security
José Ángel Fernández, Executive Chairman of Prosegur Crypto and Corporate Director of Innovation at Prosegur Cash, expressed his enthusiasm about the launch: “This new crypto bunker marks a significant milestone for our company, as it expands our digital asset custody offerings to Latin America, while maintaining the same excellence and experience of our traditional custodial services. Our priority is to guarantee the security of the assets, ensuring they are never employed for purposes other than custody.”
Facilitating the Digitization of Financial Assets
With the introduction of this new cold storage facility, Prosegur Crypto aims to promote and facilitate the digitalization of financial assets in Argentina. They are creating a comprehensive institutional trading and custody offering that integrates regulation, technology, operations, and compliance.
Prosegur Crypto’s operations are also designed with future advancements in mind, including the tokenization of capital market instruments and real assets, such as gold, real estate, and agricultural commodities. The company’s services also extend to governmental entities, equipping them with a platform for asset seizure for security forces.
Moreover, Prosegur Crypto intends to provide financial institutions, government agencies, investment funds, family offices, and exchanges with a streamlined process for managing their digital assets. This includes securely initiating transactions on the blockchain without direct internet connections, significantly enhancing protection against cyber threats.
As Argentina continues to navigate the evolving landscape of cryptocurrency, Prosegur Crypto stands at the forefront of ensuring that institutions can safely and efficiently manage their digital assets.
