Crypto.com Secures USD 120 Million Insurance for Digital Assets

Crypto.com Custody Trust Company, a U.S.-based subsidiary of Crypto.com, has secured USD 120 million in insurance coverage for the digital assets it holds. This insurance is designed to protect against various threats, including crime and theft, and is organized by Aon, a leading international professional services firm. The coverage is provided by a syndicate of top insurers under Lloyds of London.

The insurance package includes USD 100 million in coverage for digital assets stored in cold wallets, safeguarding against physical loss, theft, and destruction. An additional USD 20 million covers crime and third-party thefts, ensuring comprehensive protection for the custody operations. This move underscores Crypto.com's commitment to security and regulatory compliance, which are fundamental to its operations.

Joe Anzures, President of Crypto.com Custody Trust Company, emphasized the importance of safety and security in the company's foundation. He stated that the insurance policy is a testament to their ongoing efforts to safeguard customers and provide top-tier services. Anzures noted, “We built Crypto.com on a foundation of safety and security. 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.”

Glenn Morgan, Head of Digital Assets at Aon, highlighted the firm's commitment to addressing the evolving needs of the digital asset space. He stated, “At Aon, we are committed to meeting the emerging needs of the digital asset space and ensuring that risks are managed effectively. Designing the right insurance programs will foster the healthy growth of this technology and create more secure and trusted engagements with the crypto economy.”

Crypto.com, established in 2016, has grown to become a prominent player in the cryptocurrency industry, known for its regulatory compliance and robust security measures. With a mission to put cryptocurrency in every wallet, the company has amassed over 140 million users worldwide. Crypto.com offers a range of services, including secure trading, custody solutions, and payment services, all aimed at promoting a more equitable and accessible digital financial system.