Prosegur Crypto provides unique crypto service and confidently expands globally
- Empowered to prevent illicit activity with a specialized platform and high-quality data
- Enables compliance team with skills for a new era
- Eases market expansion with full support for crypto assets around the world
Chainalysis was the partner we needed to expand on our expertise in AML and crypto compliance, and bring a new level of security to the crypto space.”
Prosegur Crypto is the digital asset custody service from Prosegur, a world leader in the security, transfer, management, and custody services industry for 45 years. Through a unique Crypto Bunker and a 360-degree inaccessibility approach, Prosegur Crypto is the most secure and advanced crypto asset custody solution for the institutional market.
Challenge
The company needed to complement its established physical security expertise with blockchain security for its new crypto service.
Solution
Prosegur Crypto uses the Chainalysis Know Your Transaction (KYT) and Chainalysis Reactor solutions to provide a unique crypto service with a complete view of both the physical and digital security of clients’ assets, while quickly and efficiently conducting due-diligence checks and remaining compliant.
Our long-term institutional clients are used to top-level security and compliance and we want to offer the same for their crypto assets.”
What prompted Prosegur to extend its services to the crypto space?
Prosegur specializes in security and operates multiple divisions in more than 26 countries. Our Prosegur Cash division is in charge of custody of physical currencies on behalf of institutional investors: money, gold and art. It was a natural step to get into the crypto space since we are security experts and our clients trust us.
The industry has huge potential. What’s happening globally helps people understand the value of crypto – it’s important for people to embrace this new financial system and new products like DeFi and staking.
What is challenging about operating your crypto service in a secure manner?
The challenge we face is explaining the importance of physical security around crypto assets. We have heard for some time about cyberattacks targeting crypto assets. Hackers are getting more sophisticated and use increasingly complex methods. They spend millions and know how to effectively launch successful cyberattacks.
At the same time, we now see more physical attacks related to crypto, such as phones being stolen, homes being broken into, people being kidnapped. We want to offer a new way to confront these types of threats.
