Gemini obtains Digital Asset Insurance

03 Oct, 2018
by Manon Bridou-Koenig
Gemini obtains Digital Asset Insurance

Gemini Trust Company, leading digital asset exchange and custodian, announced today in a press release, that the company has secured insurance coverage for custodied digital assets.

The exchange received coverage after it could prove to underwriters that it "is a leading, best-in-class exchange and custodian."

It's through a global consortium of industry-leading insurers and arranged by Aon, a global professional services firm providing a broad range of risk, retirement and health solutions, which provides "a broad range of risk, retirement and health solutions."

Yusuf Hussain, Gemini head of risk said in a statement that "consumers are looking for the same levels of insured protection they're used to being afforded by traditional financial institutions" and he added "Educating our insurers not only allows us to provide such protections to our customers, but it also sets the expectation for consumer protection across the crypto industry."

This insurance comes on top of the Federal Deposit Insurance Corporation-insured dollar deposits that the exchange holds.

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Read more about: Gemini (GUSD)


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