Solidi and Asset Reality to cooperate in asset seizure and recovery

Solidi, a leading UK based crypto asset exchange and custody provider, is pleased to announce a new strategic partnership with Asset Reality, the world’s first end-to-end solution for recovering, managing and realising seized crypto assets. The partnership will combine the talents of both firms to offer an innovative solution to law enforcement in storing seized digital assets to support asset recovery in civil and criminal cases.

By working together Solidi and Asset Reality aim to build a cost effective and straightforward solution to the challenge faced by law enforcement. The combined effort paves a way for law enforcement to secure digital assets from criminals and where possible, return those assets to the victims of crime at the conclusion of the case. This can be very challenging given the nature of crypto currency, differing legal and regulatory regimes and the common lack of knowledge and expertise in many investigation teams.

Solidi is an FCA registered custodian of digital assets and a crypto exchange. Our platform combines multiple layers of security with a tried and tested cold storage vault to ensure stored digital assets are protected. Our cold storage solution recently celebrated its 7th year of flawless operation during which it has successfully secured hundreds of millions of crypto assets.  At Solidi we work closely with regulators to implement best practice in safeguarding and trading digital assets. We see Asset Reality as key partner in the asset recovery space. We are pleased to be working with them in such an important area that will be of significant benefit to the future of digital assets and  victims of complex financial crime.

Solidi CEO Jamie McNaught commented:

“Through exchanges such as Solidi, the Crypto asset space has become increasingly easy to enter during the last 5 years. However, by lowering the barrier to entry we have witnessed an explosion in crypto being used in scams and money laundering. Blockchain analysis and an increasingly technically astute police force has resulted in a surge in asset recoveries, necessitating a secure storage solution to protect seized assets during the legal process.“

“Our partnership with Asset Reality provides a single ‘one-stop-shop’ for the management, storage and eventual liquidation of seized assets, lowering costs & complexity to achieve a better result for the victims of crime.”

Paul Munson (Solidi, Head of Compliance & MLRO) added:

“We are excited to be partnering with Asset Reality to support the seizure and forfeiture of criminal virtual assets for the greater good of society. Solidi is a company built with a focus on being customer driven and delivering a safe and secure platform to invest in cryptocurrency.”

Aidan Larkin (Chief Executive Officer at Asset Reality) commented:

“Asset Reality are delighted to be expanding our network of FCA registered digital custodians by working with Solidi. 

One of the biggest challenges in crypto asset recovery is finding compliant and trusted solutions for the extensive breadth of different types of digital assets that public and private sector organisations are now seizing and need insured custody solutions. Our role is to identify these strategic partners to enable an end to end solution in crypto asset recovery and we’re proud to adding Solidi to our stable of insured custodians for our clients around the world.” 

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