Management company cryptocurrency assets Kingdom Trust has insured its reserves from theft or loss as a result of natural disasters. The insurer in this case made one of the most famous and oldest insurance institutions in the world Lloyd’s of London, according to Reuters.
Kingdom Trust has secured insurance coverage through Lloyd’s of London. https://t.co/vP2ypaF8Z3 | Reuters #DigitalAssets #CryptoCurrency #KingdomTrust #Insured #Regulated #QualifiedCustodian #Reuters @Reuters @LloydsofLondon
— Kingdom Trust (@KingdomTrustCo) 28 Aug 2018
“From the beginning we considered the insurance as a key factor to attract institutional investors to our marketplace”, said Kingdom Trust CEO Matt Jennings.
The company offers custodial services for more than 30 cryptocurrency, including bitcoin, Ethereum, Litecoin, Ripple and zcash for. Total assets administered by the Kingdom Trust, exceeds $12 billion.
In addition, customers have secure cold storage for scriptaction.
The insurance market Lloyd’s of London operates in 1686 and is the largest player in this segment of the market. From the reviews regarding insurance Kingdom Trust representatives of the British company abstained.
ForkLog previously reported that to acquire the Kingdom Trust was planning a California startup Bitgo, but later decided to create their own store cryptocurrency.