Bitcoin services provider Xapo has announced the launch of Xapo Institutions, a suite of products aimed at capturing a potentially lucrative customer base that includes businesses, bitcoin exchanges, hedge funds and institutional investors. Institutions launches today with a treasury management system that Xapo contends will empower organisations to better manage bitcoin through permissions and privileges that can help protect large bitcoin holdings from miscues and misconduct. The treasury controls allow users to structure and organize accounts into an array of wallets and vaults, and then control which parties have access to funds. Chief strategy officer (CSO) Ted Rogers positioned the announcement as a larger step forward for the company, one that he argues finds Xapo building on its basic infrastructure of products like multi-signature wallets and deep cold storage for the first time. Rogers told CoinDesk: ”We started out focusing on building the most secure place to store bitcoin, now we’re evolving from that into providing more customized tools that are essential for organisations.” The new tool suite will be available free of charge, Rogers said, adding that Xapo wanted to ensure users can begin to feel comfortable with both bitcoin and its management system, stating that “revenue models will come as the …