RATE Group | Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy
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Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy

12 May Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy

Posted at 11:11h in Cryptocurrency News by

12th May 2020 – Author: Charlie Wood

Arch Underwriting at Lloyd’s Syndicate 2012 has helped provide a $100 million direct insurance policy to Crypto.com, a cryptocurrency finance platform formed in 2016.

crypto-currencyThis is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault.

The new policy brings Crypto.com’s total cryptocurrency insurance to $360 million, including direct and indirect coverage via custodians.

It’s hoped the policy will significantly expand security protection for its user base against physical damage or destruction, and third-party theft.

“The crypto market is woefully under-insured, which puts both custodial firms and users at risk of theft or loss of their assets and presents a roadblock to mainstream crypto adoption,” said Kris Marszalek, Co-founder and CEO of Crypto.com.

“We have committed deeply to the security of our platform, a top concern shared by early adopters and those new to…

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