Digital asset exchange and custodian Gemini Trust has obtained insurance coverage for custodied digital assets via a global consortium of insurers and arranged by Aon.
Image: Gemini Trust secures digital insurance. Photo: Courtesy of Thought Catalog/Unsplash.
Gemini’s digital asset insurance coverage is in addition to the already available FDIC-insured US dollar deposits.
Gemini was approved for coverage after successfully demonstrating to underwriters that the company is a leading, best-in-class exchange and custodian. The digital asset insurance coverage further bolsters confidence and protection for consumers transacting on the Gemini platform.
Gemini risk head Yusuf Hussain said “Consumers are looking for the same levels of insured protection they’re used to being afforded by traditional financial institutions.
“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.”
Source: Company Press Release.