Gatecoin Launches Bitcoin Exchange with ‘Segregated Bank Accounts’

Hong-Kong based Gatecoin Limited launches new Bitcoin exchange with “bank-grade security measures,” including segregated client bank accounts, multi-signature cold storage, as well as continuous monitoring and audit from an external IT security firm, the company announced.
“Segregated bank accounts means that there are two accounts within the same bank under Gatecoin’s name; one operating to collect fees and process operating expenses, and the other to collect and store clients’ deposits, as well as process withdrawals,” Inggrid Yonata, PR and communications manager at Gatecoin, told CoinTelegraph.
She added:
“Clients’ cash deposits are protected from anything related to operational failures resulting from mismanagement or potential fines from regulators. Basically, clients’ funds will not be touched or used as part of the operational expense account.”
‘Segregated client bank accounts dramatically minimize counterparty risks,’ said Gatecoin CEO Aurlien Menant, ‘and while it is common practice within the forex industry, it is still non-existent in the crypto space.’

This post was published at Coin Telegraph on 2015-01-30.