Military grade Swiss bunker opens vaults to crypto investors

A ‘military-grade’ bunker in the Swiss Alps has opened its vaults to wealthy cryptoasset investors, corporations and institutions in search of a secure place to store their digital currencies. Swiss Crypto Vault is positioning itself as a quasi-private bank for bitcoin and other tokens at a time when traditional banks refuse to go anywhere near cryptocurrencies. Because the vault does not mix client assets with the company’s own balance sheet, it does not need a banking license to operate. The vault services a growing need from high net worth individuals (HNWI), hedge funds and family offices to more securely store large amounts of cryptoassets, frequently targeted by hackers. There have even been instances of criminals attacking bitcoin millionaires in their own homes demanding the digital private keys that open the doors to their crypto accounts. The innovation comes as a growing number of rich people and institutions are investing in blockchain start-ups via initial coin ...

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