Hong Kong-based cryptocurrency platform Crypto.com introduced on Monday it has secured a $100 million direct insurance coverage coverage led by Arch Underwriting at Lloyd’s Syndicate 2012. The platform reported that that is the biggest protection that Crypto.com has secured for its chilly storage belongings on custodial associate Ledger Vault.
In keeping with Crypto.com, the brand new coverage brings its complete cryptocurrency insurance coverage to $360M, together with direct and oblique protection via custodians. Crypto.com additionally claimed that the coverage will considerably develop safety safety for its quickly rising person base towards bodily injury or destruction, and third-party theft. Talking in regards to the new insurance coverage coverage, Kris Marszalek, Co-Founder and CEO of Crypto.com, said:
“We’ve got dedicated deeply to the safety of our platform, a prime concern shared by early adopters and people new to crypto. This extra insurance coverage coverage from Lloyd’s, coupled with our earlier massive coverage and ongoing proactive ‘Protection in Depth’ strategy, supplies one other layer of safety for our customers.”
The insurance coverage coverage follows Crypto.com latest announcement that its platform has reached two million customers, a key milestone achieved simply six months after the platform hit its a million person mark.
