Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Cryptocurrencies

BitGo offers USD 100 mln insurance cover for custodial solutions

Wednesday 20 February 2019 | 12:49 PM CET

Crypto custody specialist BitGo has offered for free USD 100 million of insurance cover for digits assets it holds for clients, via its custodial solutions.

As such, BitGo offers two custodial solutions for digital assets:

  • Business Wallet, which is a multi-sig hot wallet, or a multi-signature, multi-coin transactional wallet. This service is provided by BitGo.

  • Custody, which is a cold storage and custody service, provided by qualified custodian BitGo Trust Company

The insurance company that is providing the USD 100 million cover is Lloyd's of London, and the cover is meant for digital assets where the offline private keys are held 100% by BitGo or BitGo Trust Company. Accoring to the company, this is done in the event of 'third-party hacks or theft of private keys', 'insider theft by employees of private keys', and 'physical loss or damage of private keys'.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement