The cryptocurrency assets management company Kingdom Trust has insured its reserves against theft or loss as a result of natural disasters. The insurer is one of the most famous and oldest insurance institutions in the world Lloyd's of London, Reuters report.
From the very beginning we saw insurance as a key factor to bring institutional investors into the marketplace.
CEO, Kingdom Trust
The company offers custody services for more than 30 crypto-currencies, including Bitcoin, Ethereum, Litecoin, Ripple and ZCash. The total amount of assets under the control of the Kingdom Trust exceeds $ 12 billion.
In addition, customers have a safe cold storage for crypto assets.
The insurance market of Lloyd's of London has been operating since 1686 and is the largest player in this segment of the market. From the comments on the Kingdom Trust insurance, the representatives of the British company abstained.