An alternative investment company with a global reach, Regal Group AG, has announced its latest custody solution. The company stated that the latest custody solution will end frequent cases of hacking, internal theft, and breaches on cryptocurrency exchanges. Recall that Regal Group AG came to limelight recently when it got a regulatory go-ahead. From its strategic locations in Dubai, Zug, L.A., and Toronto, Regal Group AG helps institutional investors to purchase, store, and safeguard virtual currencies via its Nebbex™ blockchain. Its main focus is on safeguarding Bitcoin (BTC), Ethereum (ETH), and other altcoins in its storage cold vault. Essentially, the company started securing these digital assets after licensing.
Nebbex™ May Be the Way Out
Regal Group AG uses a blockchain protocol called Nebbex™, which is critical to deep cold storage. Basically, the protocol revolves around an offline mechanism that employs smart contracts to reconcile digital assets out of a physical vault. The vault is stationed in Dubai’s DMCC region, and it has earned the respect of Financial FDI Magazine. As a matter of fact, the magazine has voted the region “Number One” free trade zone in the world for three consecutive years. The reason is that it provides a fertile ground for investment and trading. Regarding its vault, Virginia-based protection and security firm, Brinks, named it as one of the “World’s Top 5 Most Secure Vaults.”
What Nebbex™ Will Offer?
Today, virtual currency vaults require users to spend between 24 to 28 hours before withdrawing their funds. However, Nebbex™ is offering something that is entirely unique. Impressively, when it comes to Nebbex™, withdrawal doesn’t exceed one hour. Also, the blockchain protocol offers financial management solutions to exchanges, merchants, and institutional investors. These clients are usually huge digital assets holders who seek a secure way to transact large volumes of digital currencies. Indeed, exchange incursion and in-house theft have become normal occurrences in today’s crypto-sphere. No doubts, hackers stay awake all night, exploring ways of bypassing exchange protective mechanisms. As a result, so far in 2018 alone, they have stolen over one billion dollars USD from exchanges around the world.
Regal Group AG’s CEO Mr. Adnan Haider said that the Nebbex™ blockchain has all it takes to revolutionize the industry. Haider noted that when exchanges key into their service, they stand a chance of ending a possible cyber incursion. The chief executive noted that Regal Group AG offers its clients an insurance policy, which is a way of giving them a “peace of mind.”
Speaking further, Haider asserted that the Nebbex™ service is the first of its kind in the global crypto-market, noting that it offers tamper-proof security and liquidity. On how the system works, he explains that Nebbex™ allows exchanges to operate redeemable tokens directly from hot wallets.
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