Regal RA DMCC, subsidiary of Regal Assets Inc, an internationally renowned gold investment company, and the Middle East’s first company to have been issued a Crypto trading license has launched a world's first “deep cold storage” solution for investors and traders, says a press note from DMCC.
Crypto-commodities owners can now store their Bitcoin, Ethereum and other altcoins in a vault located in Almas Tower, Dubai – the headquarters of DMCC.
“At the heart of DMCC’s long-term strategic growth plan is the use of technology and innovation to disrupt and connect new markets, industries, and customers. The announcement embodies this approach and will no doubt come as good news to the international cryptocurrency market,” said Ahmed Bin Sulayem, Executive Chairman, DMCC.
Tyler Gallagher, CEO of Regal Assets DMCC. “Investors worldwide are now seeing the potential in cryptos, but they are reluctant to store large amounts of coins in online wallets and exchanges due to the high risk of hacking, identity theft, malware and other issues that can literally obliterate an investment.”
According to the statement, the Regal Assets security process involves generating offline blocks, using the specific crypto-commodity’s blockchain derived algorithm. The key is then printed offline within the secure environment on a specialized wallet and placed in deep cold storage in the DMCC vault. Investors can purchase additional coins, or sell, at any time they wish.