Blocked Funds for the Blockchain Service Bureau

Is blocked funds for the blockchain a paradigm shift? 

Has Security First Int’l (OTC: $SCFR) introduced a method of security for the exposed cryptocurrency seller?  

These questions should be analyzed from the core structure of over-the-counter (OTC) crypto transactions. A transaction requires two parties, a buyer and a seller, it also requires both parties to be ready, willing and able.  

The third factor, ‘able’ is the one that provides the most friction in OTC crypto transactions.  

This is where both parties have to show the capacity to close on the transaction by show proof-of-funds from the buyer and proof-of-coin from the seller, and because both parties are being put together by intermediaries the transparency and communication between actual buyer and seller is limited.  

The buyers fiat currency onboards’ the transaction through regulated channels and has inherent recourse. The sellers crypto on the other hand isn’t coming through a regulated channel and has zero recourse due to the nature of the blockchain. There is NO getting your coin back once it has been sent. 

This is where Security First Int’l has developed a procedure and service offering to protect and assist crypto sellers in such transactions. 

With Security First Int’l the seller can now onboard a transaction with the security of the transactions value in dollars being blocked off  to their bank account, and the safety of an insured crypto custodian to assist in closing the transaction without mishap or loss of asset. 

Security First Int’l has secured 100 million dollars in blocked funds for the service and encourages all OTC crypto sellers to subscribe and mitigate risk in there OTC dealings. 

With miners making up the majority of the sell side in OTC transactions, and there being estimated 100,000 plus miners, Security First Int’l has created a subscription program tailored to the mining community.  

Miners can subscribe yearly for 1 btc, and gain access to 100 million dollars of block funds and custodial services at no additional costs. 

OTC transactions are settled through bank wire transfers and by sending cryptocurrencies to digital wallets. Dealers often handle more than $100 million of cryptocurrency trades daily with minimum ticket sizes between $75,000 and $250,000.