Crypto.com, a platform for global crypto exchange, has cemented its reputation for security. The platform has announced an insurance policy of USD $120 million, protecting its digital assets. These digital assets are safeguarded by Crypto.com Custody Trust Company, based in the United States.
Crypto.com is a trusted platform, boasting more than 140 million global users. So, this groundbreaking step signifies a remarkable move to build confidence and client protection in the ecosystem of digital assets.
Crypto.com Leveraging Cold Storage Assets to Enhance Protection
The 2025 Q1 ensures a new insurance coverage, developed in collaboration with a global professional services firm, Aon. Lloyds of London underwriters back this insurance coverage. In cold storage, $100 million in total is structured and designed for assets. This advanced move aims to provide safety against potential physical loss, damage, or theft. The crime and third-party theft incidents have secured the additional $20 million.
Crypto.com to Fortify Commitment to Client Trust
The Custody Trust Company of Crypto.com leverages digital assets to serve as the central custody solution. The North American clients and institutions empower these digital assets. The president of the Trust Company, Joe Anzures, highlights the significance of this advanced protection, stating, “Our insurance policy arranged by Aon for assets within Crypto.com Custody Trust Company is the latest example of our efforts to safeguard our customers and provide a best-in-class offering our clients can be reassured by.”
Head of Digital Assets at Aon, Glenn Morgan. echoed this statement. He emphasizes the importance of the insurance program, collaborating with the landscape of digital assets along with their evolving risks. The role of Crypto.com is highlighted through this announcement, standing as a leader in security, regulatory compliance, and customer assurance.
