Big Problem Solved; Insured Crypto Custody

Published Date
June 13, 2019

One of the biggest issues to insure the institutional participation in the cryptocurrency/digital asset sector really gets to its full potential is custody. Third party cold wallets are currently the most secure places to 'store' cryptoassets and now that storage can be insured. Swiss financial technology company METACO announced that Aon has arranged a syndicate of London insurers to offer a crime insurance product which will help reduce the risk of loss and damage. Of course that will certainly increase the cost of institutional transactions and storage, but it helps eliminate a huge concern regarding hacking. Another step forward in the cryptoasst sector.

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