12 May 2020Insurance

Cryptocurrency platform secures $100m Lloyd's cover led by Arch

Cryptocurrency platform Crypto.com has secured $100 million coverage led by Arch Underwriting at Lloyd's Syndicate 2012.

The new policy brings Crypto.com's total cryptocurrency insurance to $360 million.

Kris Marszalek, co-founder and CEO of Crypto.com, said: "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. We have committed deeply to the security of our platform, a top concern shared by early adopters and those new to crypto.

"This additional insurance policy from Lloyd's, coupled with our previous large policy and ongoing proactive 'Defense in Depth' approach, provides another layer of protection for our users."

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