UK-based multinational security firm G4S (CO:G4S) has launched an offline cryptocurrency storing system in a bid to expand the company’s presence outside of its traditional source of revenue – cash transportation services. The new virtual asset custody offers “physical security to a sector at the cutting edge of financial technology,” according to a press release from Tuesday.

G4S, which operates in around 90 countries around the globe, turned to the crypto industry due to the rise in popularity of virtual coins and higher demand from its clients. The company decided to offer an offline vault storage: the system breaks cryptocurrencies up into independent parts, which as separate fragments have no value, and then store them in vaults. That process significantly reduces security vulnerabilities compared to custodian services offered by some crypt…

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