Australia’s First Cryptocurrency Vault Launched By Decentralized Capital
Decentralised Capital a Blockchain and investment company has announced the launch of Australia’s first ever cold storage vault for digital assets. The vault was created in partnership with Custodian Vaults, a subsidiary of precious metals firm Pallion Group.
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According to Stephen Moss, founder and director of Decentralised Capital, the new crypto vault is expected to take advantage of Australia‘s growing market for digital currency storage solutions, and it is a sign that bitcoin is a bona fide long term asset.
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As a result of high profile hacks at major exchanges, resulting in losses worth hundreds of millions of dollars, industry players have developed a heightened interest in cold storage, which ensures that private keys are stored offline and away from internet thieves. The new crypto vault by Decentralized aims to take advantage of this interest, marketing itself as Australasia’s first insured cryptocurrency vault.
Speaking in a recent interview with the Australian Financial Review, Moss said:
“This is a solution for the next phase of the industry and it gives real security…You can’t hack your way into the safe…In my opinion bitcoin will not be remembered as the bubble, but the pin. While the short-term future of bitcoin may be debatable, the blockchain and its benefits are not.”