In a story that’s gone viral in the crypto community, leading US bullion company Regal Assets has just launched a new fully-insured and hack-proof cryptocurrency investment service
Bullion.Directory precious metals news 15th February, 2018
Alison Macdonald
Commercial Editor at Bullion.Directory
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 (Bloomberg), launched today a “deep cold storage” solution for offshore investors, crypto traders and IRA holders.
For the first time, crypto-commodities owners can now store their Bitcoin, Ethereum and other altcoins in a vault located in Almas Tower, Dubai – the headquarters of DMCC, the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities.
Regal Assets RA DMCC granted license to launch unique cryptocurrency service
The vault at DMCC is one of the most secure precious metal facilities in the world and will store all Regal Assets’ crypto investments in the physical form – without connection to a network – alongside the company’s’ current stock of physical gold.
All the physical devices are fully insured for the crypto-commodities market value against theft, hacking or natural disaster.
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 today embodies this approach and will no doubt come as good news to the international cryptocurrency market,”
Ahmed Bin Sulayem, Executive Chairman, DMCC.
Tyler Gallagher, CEO of Regal Assets DMCC announced “We have developed what we believe is the number one most secure way of investing in Bitcoin, Ethereum, Litecoin and other crypto-commodities,” adding, “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.”
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 secured environment on a specialized wallet and placed in deep cold storage in the DMCC vault.
Investors can purchase additional coins, sell or convert cryptocurrency profits to gold and silver, at any time they wish.
DMCC was named ‘Global Free Zone of the Year’ 2017 by The Financial Times fDi Magazine, for the third year running and serves as a global marketplace for commodities to drive trade flows through Dubai. As a DMCC licensed company, Regal Assets DMCC operates in a secure regulated trading environment and offers a service to global investors to the highest standards of international compliance.
“DMCC is the only Free Zone in the Middle East to have a government-issued license to trade in crypto-commodities and offers unparalleled full market value insurance on such investments,” said Gerhard Schubert, Chairman of the Board for Regal Assets DMCC.
“We are delighted to make this bold step forward to engage with the crypto-commodity industry and offer all those operating within it a safe and secure environment for their investment,” he added.
Regal RA is currently working on developing a fully regulated and compliant online trading platform for crypto-commodities, said Ksenia Kiseleva, manager of the company’s Dubai office. “We look at them as a commodity not as a method of payment,” she said. “There is growing demand in the U.A.E. and worldwide.”
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