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Bakkt launched its Bitcoin custody warehouse, its institutional BTC custody solution, protected by a $125 million insurance policy.
Coinbase, one of the largest cryptocurrency exchanges in the United States, is reportedly exploring plans to set up its own insurance company.
MetLife, one of the globe’s largest providers of insurance, is using Ethereum to transform the life insurance claims process.
This week, major New York City-based crypto exchange Gemini obtained insurance coverage from a consortium of leading insurance providers led by Aon, a multi-billion dollar insurance giant based in London.
China’s largest insurance conglomerate by total assets handled, the People’s Insurance Company of China (PICC), has partnered with VeChain, blockchain-based information tracking and governance systems company, with the goal of digitally transforming the insurance industry, according to a press release.
Lloyd’s of London has entered into an agreement with custodial firm Kingdom Trust to offer cryptocurrency insurance services in a move that further amps institutional entry in the digital asset ecosystem, according to a press release.
This past June, ICON, the most valuable blockchain project in South Korea, secured a strategic partnership with Kyobo Life, the country’s largest insurance firm alongside Samsung, to develop blockchain-based services.
As reported by Bloomberg on July 19, 2018, companies like XL Group, Allianz, AIG, and Chubb are creating customized insurance packages for protecting cryptocurrency businesses.