World's first deep cold storage for crypto-commodities launched by Regal Assets in Dubai
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 launched today a “deep cold storage” solution for investors and traders. 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.
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,” said Ahmed Bin Sulayem, Executive Chairman, DMCC.
“We have developed what we believe is the number one most secure way of investing in Bitcoin, Ethereum, and other crypto-commodities”, said 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.”
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.
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.