Digital Asset Custody: Maximising Your Opportunities in the Digital Space
2021 has seen the world take a huge shift towards a more digitised existence – more and more things are shifting to completely online infrastructure, from businesses and training courses to working and even our currency. With this increased digitalisation gaining more traction it’s no surprise to see the popularity and functionality of digital currencies increasing too; modern digital problems are likely to require intuitive modern solutions, which is exactly what cryptocurrencies are able to offer. Delving into the world of cryptocurrency can be a very daunting step, particularly if you’ve never held any digital assets before – it’s this reason that drives us to ensure that our support channels are as open and welcoming as possible. By offering our clients the support that they need, we strive to ensure that everything is in place to facilitate the most effective and beneficial digital environment to operate within, no matter how you intend to interact with cryptocurrency and digital assets.
The BCB Group team is on hand to offer support around the clock for all of our clients – if you’re a BCB Business Account holder, you can get in touch with us at any time if you ever require assistance, guidance, or technical support, so don’t hesitate to speak to our experts today. Alternatively, you can dive deeper into our Insights page to learn more about the latest developments and movements within the cryptocurrency industry, which may also assist you in making more informed decisions regarding your business banking, trading the digital custody requirements as an institution in the digital asset space.
What is Digital Asset Custody?
According to the International Monetary Fund (IMF), digital assets are “digital representations of value made possible by advances in cryptography and distributed ledger technology.” Digital assets exist virtually, making them intangible, yet many are increasingly linked to tangible assets. In practice, digital assets are assets that exist virtually, making them intangible but many are increasingly linked to tangible assets. Here are the different categories of digital assets that you may encounter when entering the market:
- Security tokens – these are tokens that have characteristics similar to that of traditional trading instruments such as shares, debentures, or units in collective investments schemes
- Utility tokens – these tokens are used to provide value to investors by giving them access to a product or service in the future. These can be used in a variety of ways, particularly for new businesses that are still in the development stage. These businesses are able to offer out these tokens to their investors, allowing them to redeem the token in the future in exchange for the use of the product or service that has been developed.
- Cryptocurrencies/Exchange Tokens – cryptocurrencies are the most common type of digital asset. These tokens are used for a number of different purposes, particularly that of security whilst trading.
- E-Money Tokens – These tokens are designed to function as a digital alternative to traditional money. The token represents a claim on the issuer and will be issued on the receipt of funds when making a transaction. These tokens would need to be accepted by various entities besides the issuer in order to remain functional.
- Stablecoins – These digital assets are pegged to the value of a stable asset, such as a fiat currency or a precious metal. These coins are popular with investors who want to prioritise security and long term growth over high returns.
Digital asset custody is the process of enabling users to make use of their digital assets in a safe and secure manner – with a trusted, regulated platform behind you, you can be sure that risk is minimised. Here at BCB Group, we offer digital asset custody solutions for BTC and ETH, which allows you to manage your wallets and transfer funds in and out of your BCB account; this ease of use makes your digital asset holdings more accessible and functional than ever before. In addition to this, we also support BTC and ETH payments using the BCB console, ensuring that you have a reliable payments network to utilise at all times.
How Can BCB Group Help You to Manage Your Digital Assets?
Here at BCB Group, we’re passionate about creating a productive, secure, and reliable environment for our clients to operate within; we’ve developed our platform in line with our user’s needs, both now and in the future, in mind, giving you the tools you need. When it comes to digital asset custody, we offer 4 key features that set you up for this success – these are:
- Dedicated institutional support: Our high touch service provides all of our clients with access to a dedicated team of operational support professionals
- Operational safeguarding: We’ve curated a suite of protection functions such as withdrawal limits, access frequency control, and transaction size limits to ensure that you’re able to make the best decisions for your institutional crypto banking requirements.
- Institutional custody: We provide robust and secure custody solutions for all of your assets, from fiat to digital assets using highly-effective encryption and private key storage infrastructure.
- Full segregation: To enable our clients to view their wealth in the clearest possible way, we offer fully segregated wallets for each of your digital assets.