Matrixport Secures $50M Insurance Coverage for Digital Assets
Matrixport, one of the world’s largest digital assets financial services ecosystem, secures $50M of insurance coverage for digital assets held in cold storage with Cactus Custody™, its institutional custodian.
Matrixport secures $50M in digital assets insurance coverage, in addition to enjoying additional insurance coverage. Clients may be certain that the group has passed and completed. Due diligence criteria required to be insured by one of the world’s top cryptocurrency insurers.
Cynthia Wu, COO of Matrixport, said: “We are glad to announce this insurance coverage by Canopius, one of the largest Lloyd’s of London syndicates. Client’s asset security is the top priority for Cactus Custody™, a qualified custodian, and Matrixport, a crypto financial institution. The insurance coverage enhances our custody offerings and empowers clients. To leverage our ecosystem in a meaningful way, especially for institutional clients where insurance coverage is a compulsory requirement. This is a significant milestone and a testament to our commitment to providing our clients with secure, transparent, and efficient institutional custodian services in the digital era.”
Matrixport Overview
Matrixport’s current institutional-grade custody services by Cactus CustodyTM offer Warm & Cold digital asset storage solutions, with monies and digital assets under custody protected by cutting-edge system security architecture and vault infrastructure developed spanning three continents. The group’s custody solutions protect digital assets for over 200 institutional clients, and the acquisition of insurance. Is part of its efforts to improve custody products in order to satisfy the highest level of service requirements for institutions.
The $50M specie insurance coverage has been adapted to Cactus Custody’s risk requirements. To improve asset security against employee collusion, third-party theft, and physical loss or damage to private keys. The insurance coverage will expand to include key cryptocurrencies and NFTs in the future when Matrixport and Cactus CustodyTM handle new types of digital assets.
About Cactus Custody™
Cactus Custody™, the world’s first MetaMask Institutional (MMI) integrated custodian. It aims to provide the digital era with secure, transparent, and efficient institutional custodial services.
About Matrixport
Matrixport is one of the world’s largest and most trusted digital assets financial services ecosystem. The company’s services include prime brokerage, Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Matrixport serves individuals as well as over 500 institutions across Asia and Europe.
About Canopius
Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, China, Singapore, the UK and US. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer.
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