- Posted by: Débora Menezes
- Category: Newsroom
Bitrust is a solution for large institutional investors
Mercado Bitcoin, the largest cryptocurrency and digital assets broker in Latin America launches Bitrust, a qualified custodian bank for cryptocurrency and digital assets, supported by a technological solution with recognized multi-subscriptions and auditing, developed through a strategic partnership with Kryptus, a brazilian multinational that specializes in cryptography and cybersecurity.
According to Reinaldo Rabelo, Mercado Bitcoin CEO, the initiative is one further step towards building the financial market of the future and its aim is to meet the needs of large institutional clients who wish to diversify their investments and allocate resources with crypto assets and investment funds that present this asset class in their composition.
“Mercado Bitcoin currently holds custody of approximately R$ 1 billion (~U$ 190 million) from their nearly two million clients in a completely secure manner. Now we have the opportunity to be even closer to the governance required by the traditional financial Market regulators”, states Rabelo.
Expected to be available by the end of 2020, the solution will state their price over an annual custodian value, according to the international market. Soon it will be announced the hiring of a Big Four audit to analyze wallets and the partnership with an entity from the traditional financial system.
For Roberto Gallo, Kryptus CEO, Bitrust’s greatest benefit for the investor is the possibility to have a qualified and audited infrastructure, with well defined processes, that ensures the security of cryptowallets storage and transactions. “The Bitcoin lifecycle demands specific know-how, considerable investments in technology and qualified professionals with a lot of experience. Bitrust makes it possible for the market to access a robust custodian infrastructure, even when facing highly prepared and highly motivated adversaries”, he concludes.
About Bitcoin Market
Bitcoin Market is the largest cryptocurrency negotiation and alternative assets platform in Latin America, who provides freedom, security and liquidity in negotiations. The company is among the 25 most reliable exchanges in the world in the negotiation of crypto assets according to a study delivered by the Blockchain Transparency Institute (BTI). With over 1,9 million clients and around R$ 12 billion (~U$ 2,2 billion) already negotiated since its launch in 2013, the company has been changing how people deal with their own money and amplifying access to alternative assets with liquidity and security.
Kryptus is a Brazilian multinational that provides highly customizable, reliable and secure solutions in cryptography and cybersecurity for critical applications, focusing on delivering services of the highest level to resolve their clients’ missions. Founded in Campinas (SP) in 2002, today the company works in the private and public sectors of markets in Brazil, Latin America, Europe, the Middle East and Africa, and is recognized the the Brazilian Ministry of Defense with the EED seal (Strategic Defense Company), in addition to having the Gartner Cool Vendor seal.