Extends Insurance Coverage to $360 Million After Securing $100 Million Policy Led by Arch Underwriting at Lloyd’s Syndicate 2012 Extends Insurance Coverage to $360 Million After Securing $100 Million Policy Led by Arch Underwriting at Lloyd’s Syndicate 2012

Share this article today announced it has secured a $100M direct insurance policy led by Arch Underwriting at Lloyd’s Syndicate 2012. This is the largest coverage that has secured for its cold storage assets on custodial partner Ledger Vault.

The new policy brings’s total cryptocurrency insurance to $360M, including direct and indirect coverage via custodians. It will significantly expand security protection for its rapidly growing user base, which has just surpassed 2+ million, against physical damage or destruction, and third-party theft. As cryptocurrency adoption rises, insurance coverage has lagged behind. The total market value of cryptocurrencies has grown to $250300B today, however, Forbes reports that there exists only $1B available insurance coverage, leaving the vast majority of crypto assets unrecoverable amidst a rise in fraud and thefts that reached $4.5B globally in 2019.

According to a recent survey, conducted with the Economist Intelligence Unit (EIU), security concerns were cited by nearly one-third of respondents as a barrier to greater digital currency adoption.

Kris Marszalek, co-founder and CEO of, 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.”

Recent Growth also announced that its platform has reached two million users, a key milestone achieved just six months after the company hit its one million user mark. The rapid growth in users led to transaction volumes on’s platform more than tripling between December 2019 and April 2020. The App has reached the top 50 in the Finance category in the UK, FranceItaly, and Spain, with plans to ship its cards to the rest of Europe soon. The company’s CRO token saw the third-highest growth on market cap in Q1 2020 according to CoinMarketCap.

About was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data, and identity. With over two million users on its platform today, provides a powerful alternative to traditional financial services, turning its vision of “cryptocurrency in every wallet” into reality, one customer at a time. is built on a solid foundation of security, privacy, and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013, and PCI:DSS 3.2.1, Level 1 compliance. is headquartered in Hong Kong with a 250+ strong team. Find out more by visiting

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