The global cybersecurity market size is growing every year, with all major companies investing heavily in protecting their assets and data. For hackers online crime is a walk in the park, with most companies having a single server as an entryway to all of their stored data. In fact, post Covid this business is projected to grow from $217.9 Billion in 2021 to $345.4 Billion by 2026, which represents a Compound Annual Growth Rate (CAGR) of 9.7%. This light speed growth can be explained by the growing awareness and enhanced spending in cybersecurity across organizations infrastructure.
One leading player in the cybersecurity field is Madrid-based Prosegur Crypto. It is a publicly traded company with offices in 26 countries around the world that provides both physical security and cybersecurity services. Now it is pivoting heavily into the crypto realm with its new Prosegue Crypto arm, which will offer custodial protection for crypto holdings. The new product, which is called the Crypto Bunker©.
Services for Crypto
This product is a multi-layer defense mechanism that keeps customer holdings completely tamper and hack proof. It does this by engaging over 100 measures of protection across 6 different security layers in 2 unreachable environments; the cold storage and the cold space.
This means that customers’ holdings are stored 100% offline, and serves as a protection of private keys using an air-gapped Hardware Security Module (HSM). This means that funds can be transferred directly from a wallet, without the need for the internet.
In terms of signatory transactions for the wallet, an MPC feature disburses the key shares between up to 15 signatories, and user authentication is given an IP address whitelisting process.
Prosegur also offers physical security among its own armored storage facilities, with 24/7 surveillance and other features according to the client’s needs. And of course, all facilities feature secure systems that are not open to DDOS or intrusive attacks.
Prosegur, which has been successfully securing clients since 1976, has now taken this specialist expertise, where it secures over $400 billion of assets under custody, into the delicate realm of cryptocurrencies.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.