Crypto Custody Services On the Rise in Asia

Amrit Mirchandani

April 3, 2019

Cryptocurrency custodial services are on the rise, helping institutional investor be better protected in terms of security, insurance and in the care of a more experienced third party. One such region where Cryptocurrency custodians are picking up in pace in Asia.

Fusang Group

Fusang Group which is Hong Kong-based has very recently announced the new launch of Crypto custody services called the Fusang Vault.

Fusang Vault has entered the Crypto scene right after receiving approval from the Malaysian regulator to launch tokenised securities exchange which will be the first one in the Asian region.

Henry Chong, the CEO of Fusang Group, stressed on the need of a Crypto custody given the mismanagement that occurs to increase reliability. A focus has been made on the current technology on the platform, level of security, need for customisation for the client and ensuring the best services possible.

Fusang has automized operations in the Crypto custody platform to minimise errors too with the added steps of AML and KYC checks.

Branding China Group

A Hong Kong-based trading and asset management company called Branding China Group (BC Group) launched an insured Crypto custody product for investors in Asia.

BC Group already owns Crypto investments which include a trading platform called Anxone and a digital brokerage called OSL hence already has great traction amongst investors.

An insured custody will ensure that investors are fully assured that their funds are safe and compliant. All the funds from investors will be transferred directly to cold storage as soon as bought, giving major upcoming Crypto platforms such as Bakkt a run for their money.

Crypto custody solutions are the missing link between investors and fund managers to explore the more modern and digital Cryptocurrency market. In addition, Asian investors are an essential part of the Crypto capital market given their knowledge, connections and an understanding of underlying technologies.