FORT LAUDERDALE, FL–(Marketwired – January 18, 2018) – Security First International Holdings, Inc. (OTC PINK: SCFR), a company focused on providing innovative financial payment products and services to consumers globally, today announced FirstCryptoBank — a cold storage custodian for cryptocurrency digital assets.
The company will begin to accept deposits for all listed cryptocurrency on approved exchanges with immediate effect. All coins will be held in cold store in paper form and secured with a national banking institution.
“Keeping coins safe is one of the most important responsibilities in the digital currency ecosystem. The best way to keep them safe is to hold them offline in what’s called cold storage,” said Brian Fowler, president of Security First International Holdings, Inc.
A custodian is a person or entity selected to hold and protect customer funds or investments through either direct or indirect means. Additionally, a custodian may have the right to assert possession over the assets if required often in conjunction with a power of attorney. This allows the custodian to perform actions in the client’s name, such as making payments or changing investments.
In the alt-coin space, cold storage refers to various practices of storing cryptocurrency offline. Alt-coin users can opt to store their digital currency using encrypted media, a bearer instrument (physical bitcoin), a hard drive or USB drive, a hardware wallet, and a paper wallet.
The company is currently in the process of becoming current with its filing with OTC Markets and providing shareholders and potential investors with full transparency.