Prosegur Crypto, the institutional digital asset custody service of Prosegur Cash, has announced the inauguration of Argentina’s first crypto cold storage custody bunker and the second in Latin America, according to a statement from the security company.
The facility is a cold storage vault for crypto assets, offering a high level of security using cutting-edge technology to safeguard institutional digital assets offline. It is the second of its kind in Latin America, following the opening of a similar facility in Brazil.
Online hacking or theft losses can often reach millions of dollars, making professional custody of these assets essential. Prosegur Crypto built the cold storage vault in Buenos Aires, similar to those it launched in Madrid, Spain, in 2021, and São Paulo, Brazil, in 2023. This positions Prosegur Crypto as the first global security company to enter the digital asset market, offering a comprehensive service and model. The company has already received authorization from the National Securities Commission (CNV) to operate in the Argentine market.
The crypto asset vault, also referred to as a bunker due to its high security, is based on patented cold storage technologies. This solution ensures high levels of security, reliability, and availability for high-value digital assets. These assets are stored entirely in cold wallets, keeping clients’ private keys offline and disconnected from the internet. The bunker is equipped with over 100 protection measures distributed across six layers of security to safeguard the custody chain of digital assets. Clients’ assets are not used or moved for any purpose other than custody. Additionally, the facility includes technological mechanisms for quickly and securely making crypto assets available to clients in an automated manner.
“This new crypto bunker marks a significant milestone for our company as it expands our digital asset custody offering to Latin America, maintaining the same excellence and expertise of our traditional custody service. Our priority is to guarantee the security of assets, ensuring they are never used for purposes other than custody,” said José Ángel Fernández, Executive Chairman of Prosegur Crypto and Corporate Innovation Director of Prosegur Cash.
With these new crypto custody facilities, Prosegur Crypto promotes and facilitates the digitalization of financial assets in the country by creating an integrated institutional buy-sell and custody offering that includes regulation, technology, operations, and compliance. The company is also prepared for the tokenization of capital market instruments and real assets, such as gold, real estate, or the agricultural industry. Furthermore, it provides a platform for maintaining positions in digital assets for governmental entities and includes an asset seizure platform for law enforcement.
Additionally, Prosegur Crypto aims to offer financial institutions, government agencies, investment funds and managers, family offices, and exchanges a secure process for managing their digital assets, including submitting transactions to the blockchain without direct internet connectivity, thus maximizing protection against cyberattacks.
