ZEDRA enters the digital asset market

11 September 2019

ZEDRA, a global regulated trust, fund and corporate services provider, is pleased to announce it is partnering with the Constellation Group, Vo1t Digital Custodian and the BCB Group to offer an end to end solution for the purchase and sale of Bitcoin.

ZEDRA has also secured the services of a globally recognised US investment bank to hold the buyer’s fiat cash within its AAA rated money market funds. Constellation acts as transaction manager and has extensive experience providing advice to its clients with digital assets. Vo1t is a digital custodian, employing military grade, multilayer security and encryption, that meets The CESG’s Claims Tested Mark (CCTM) of the National Cyber Security Centre and BCB, an FCA and FINMA regulated payments institution and prime broker with digital asset specialism, providing onboarding, trade execution and settlement services.

Sebastian Higgs, Director at Vo1t, said: “This milestone partnership paves the way for ZEDRA to enter into the digital assets market, further expanding their service offering. As the world’s most secure cold-storage vault for digital assets, Vo1t’s AON-insured solution makes customer security a priority, and protects users against threats in the crypto market, while simultaneously making it possible to return yields on assets held in cold storage. Combined with our partners at Constellation Group and BCB Group, we are thrilled to provide ZEDRA’s valued clients with a regulated point of entry into the digital assets market.” “BCB are proud to participate in this unique opportunity to transact in cryptoassets within a closed loop of gold standard organisations. This partnership forms the ideal gateway for established financial institutions to engage more meaningfully in digital asset markets” said Oliver von Landsberg-Sadie, founder and CEO of BCB.

John Hunter from ZEDRA comments that “the buyer’s fiat cash and the seller’s bitcoin, will be held to the order of ZEDRA and governed by an innovative tri-partite escrow agreement containing the terms of the transaction. Following proof of funds and verification of the bitcoin and satisfaction of the terms of the arrangement, the transaction concludes. The bitcoin is then transferred to the buyer and this can either be via internet connected hot wallets, or it can be transferred utilising Vo1t’s HSM cold storage custody platform. As part of the implementation of this project, ZEDRA worked collaboratively with Luke Sayer of Carey Olsen who assisted with his in-depth knowledge of the legalities attached to the acquisition, custody and security of cryptoassets to ensure the protection of both Zedra and its clients.