BitGo is aware of the growing demand of its clients in the area of insurance. In addition to the budget currently allocated to this service, which amounted to $ 100 million, the custodian of crypto-currencies has authorized coverage of excess insurance for its customers, so that they can attach themselves to the limit of the amount of their coverage.
The portfolio of cold storage to the honor
According to the statements of Rodrigo Vicuna, the chief financial officer of BitGo, this insurance program will be provided through the unions of Lloyds of London.
Not having a fixed ceiling or floor for the subscription of the police, BitGo has just ensured that these plans will be flexible according to the needs of customers.
“A small site of crypto-exchange may not require that a policy of 5 to 10 million dollars, while large investors will need more,” said Vicuna.
Just as the policy of 100 million dollars, the excess insurance of BitGo would be dedicated exclusively to portfolios of cold storage, that is to say, the key cryptos kept off-line.
As for clients who wish to purchase insurance for portfolios hot (i.e. connected to the internet), that is to say, the key cryptos preserved online, they can do so with BitGo-Coincover.
Continue to enrich its services
Has barely launched, the new insurance policy of BitGo has already registered its first client, namely the company Crypto.com. It is, however, shown discrete with respect to the amount of surplus cover subscribed.
The company is fully involved in the protection of crypto-assets of its customers, and at the same time she puts a point of honor to make its services as competitive as possible.
Vicuna has argued in this regard :
“BitGo establishes deep relationships with its customers to generate value for them and create long term sustainable businesses “.
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