Founded in 2016, Crypto.com today serves over 10 million customers with the world’s most effective growing crypto app, combined with the Crypto.com Visa Card – the world’s largest crypto card program – the Crypto.com Exchange and Crypto.com DeFi Wallet. Recently launched, Crypto.com NFT is the premier platform for collecting and trading NFTs, carefully curated from the worlds of art, design, entertainment and sports.
Crypto.com is built on a solid foundation of security, privacy and compliance and is also the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks. With over 2,600 people in offices over the Americas, Europe and Asia, Crypto.com is accelerating the world’s transition to cryptocurrency.
Crypto.com announced that it has expanded its total insurance policy to USD $750M, after increasing its policy led by Arch Underwriting at Lloyd’s Syndicate 2012. The renewed policy, effective 6 September 2021, makes Crypto.com’s insurance programme one of the largest on the market.
Crypto.com insurance – This policy is the greatest coverage that Crypto.com has ever secured because of its cold storage assets on Ledger Vault, the company’s custodial partner. It brings Crypto.com’s total cryptocurrency insurance to USD $750M, including both direct and indirect custodian coverage. Crypto.com’s more than 10 million users can rest assured knowing they can be protected by one of the industry’s biggest plans offering protection against physical damage or destruction, and third-party theft.
Digital currency exchange Crypto.com has expanded its insurance policy to protect up to $750 million worth of digital assets, offering an additional layer of protection for the platform’s 10 million users. The brand new plan, effective since Sept. 6, is backed by Arch Underwriting at Llyod’s Syndicate 2012, the business announced Monday. The policy, which includes both direct and indirect custodian coverage, pertains to Crypto.com’s cold storage assets held on Ledger Vault.
The policy is the greatest in the cryptocurrency industry, exceeding the over $700-million coverage purchased by digital custodian BitGo earlier this season. Digital asset companies are expanding their insurance to protect against physical damage and, perhaps moreover, third-party theft. Consumer protection standards have become ever more important as mainstream investors and institutional funds increasingly choose cryptocurrencies. The full total cryptocurrency market is presently valued at over $2.2 trillion, having peaked at over $2.5 trillion earlier this year. Twelve months ago, the combined value of crypto asarrangeds was roughly $350 billion.
Hedge funds, wealth managers and corporations have emerged as key players in the market’s expansion. Financial advisers are also looking to get in on the action given that crypto investing has been sufficiently de-risked from a career reputation standpoint. The success of mobile investing applications like Crypto.com also suggests that retail investors remain highly active in the space. Despite the occurrence of large, institutional players, crypto infrastructure continues to be susceptible to coordinated attacks, especially within decentralized finance, as evidenced by the $600-million Poly Network exploit in August. Insurance policies that provide monetary protection against theft are likely to grow in importance as more companies emphasize security and data privacy standards.