Lloyd’s Partners with Coincover to Launch Product for Cryptocurrency Wallet Holder Prote…

Banking companies have made serious inroads into the cryptocurrency business, several of them recognizing that a mixture of both fiat and crypto is the path to the future.

Lloyds was the latest institution to take a more serious look at digital assets, with the bank focusing on improving the security of users of cryptocurrencies.

Lloyd’s recently launched its own insurance policy to protect assets held in hot wallets from bad actors and malicious hacks.

Sources close to the organization have stated that security has become a big concern in the space and as time progressed, the damage was only increasing. To combat this, Atrium, the syndicate of the Lloyd empire decided to work on an all-inclusive safety feature.

The development of the feature was done in partnership with Coin cover with an aim to curb cryptocurrency thefts on hot wallets.

Flexible insurance policy limits start from as little as 1,000 pounds and will act as a liability insurance policy. The strategy will have a dynamic…