To protect the cryptocurrency from theft, one of the leading bitcoin storage companies plans to hide encryption keys in underground bunkers and on a satellite.

Xapo is going to implement new security features to protect the bitcoins stored in its vaults, reports Gigaom. According to its CEO Wences Casares, “when we talk to customers who have heard of bitcoin but are not yet using bitcoin or owning bitcoin, they always mention security as one of main hurdles of using bitcoin and its understandable. That’s why we’ve from the beginning focused on security”.

That is why the account keys will be kept in five different metal vaults, situated in bunkers deep underground in mountainous regions. Any withdrawal of bitcoins must be validated by three of the five vaults. “If someone wanted your bitcoin”, says Casares, “they would have to raid simultaneously into different vaults on different continents.” To further complicate the theft of bitcoins, Xapo will also store the keys in space, in partnership with the satellite company Satellogic.

Xapo is not the first bitcoin company that plans to use space for cryptocurrency storage. SpaceBit, a startup company founded by Ian Angell and Pavlo Tanasyuk, plans to create Space Vault, which would allow storing digital money on a group of nano-satellites, far from the control of any government on Earth. The satellites would act not just as depositories but also as a platform to provide universal access to remote areas that do not have payment infrastructures.