We are pleased to share that Bitstamp, the world’s longest running crypto exchange, has substantially increased its crime insurance policy and now boasts the largest placement in the insurance market covering digital assets stored using multi-sig technology.
Paragon International Insurance Brokers, in coordination with Woodruff Sawyer, have secured this programme using various insurance companies and certain syndicates at Lloyd’s of London.
The Crime insurance policy supplements existing insurance of assets held in cold storage. Bitstamp keeps approximately 95% of all digital assets stored offline and protected to the extent of BitGo’s insurance policy. Now, more of the assets at Bitstamp are protected even while they are held online or during transit in a large range of scenarios. With cryptocurrency adoption growing by the minute, Bitstamp’s total daily trading volumes have increased beyond $3.8 billion. By expanding its insurance coverage, Bitstamp is giving customers an extra level of comfort in the security of their digital assets.