One of the most iconic companies in safely handling cash is making a bet on something entirely different: crypto.
What’s happening:
- Legendary cash handling company Brinks has recently announced that they have made a strategic investment in crypto custodian BitGo
The big idea:
- Despite crypto being a digital space, as a custodian of digital assets BitGo still requires physical logistics and security to safely store fragmented master keys and physical hardware security modules that are essential to protecting their infrastructure
- Brinks has a global network of logistics for safely storing assets such as cash and gold, which makes them an ideal partner for providing security for the physical items required for institutional crypto custodians
By the numbers:
- BitGo currently has approximately $16B USD in digital assets under custody
- Brinks has been operating for 164 years and has a presence in more than 100 countries globally
Going deeper:
- BitGo is the custodian for many of the leading companies in crypto, including Pantera, Bitstamp, GSR and others
The intrigue:
- This is not the first time Brinks has ever ventured into crypto, as they previously announced a partnership with one of Switzerland’s largest crypto custodians Metaco
