Cryptocurrency Startup the Latest Contribution to Wales’ Booming £8.5bn Tech Sector

Working with Welsh cryptocurrency startup Coincover, Lloyd’s of London has launched a new insurance policy to protect cryptocurrency held in online wallets against theft or other malicious hacks

With the significant support of Development Bank of Wales and Welsh Angel Investors, Coincover is a fintech/insurtech start-up in Cardiff, enabling the safest way for businesses and consumers to buy, hold, accumulate, transfer and spend cryptocurrency. The company is the latest contribution to Wales’ booming £8.5bn tech sector.

After strong pick up in the beta testing phase, Coincover has formally launched their cryptocurrency insurance product to the market, backed by a consortium of prestigious Lloyd’s of London insurers, led by Atrium.  This is a ground breaking, first of its kind liability policy to protect against losses arising from the theft of cryptocurrency held in online, hot wallets, with a dynamic limit that increases or decreases in line with the price changes of…