{"id":411250,"date":"2020-01-16T20:00:41","date_gmt":"2020-01-16T20:00:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=411250"},"modified":"2020-01-16T15:43:30","modified_gmt":"2020-01-16T15:43:30","slug":"geminis-200m-crypto-insurance-indicates-rapidly-rising-instiutional-demand","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/geminis-200m-crypto-insurance-indicates-rapidly-rising-instiutional-demand\/","title":{"rendered":"Gemini’s $200M Crypto Insurance Indicates Rapidly Rising Instiutional Demand"},"content":{"rendered":"

The Gemini crypto asset exchange has just announced an increase to its custody platform’s insurance coverage. At $200 million, the Winklevoss<\/a>-led trading venue now boasts the largest cold storage insurance limit of any crypto custodian on the planet.<\/p>\n

The decision to increase its coverage shows Gemini Custody is clearly expecting demand for its services to also increase. Judging by the size of the new coverage and the platform’s reservation for accredited investors, the company anticipates serving some large holders in future.<\/p>\n

Gemini Positioning Itself to Serve a Richer Class of Potential Crypto Investor<\/h2>\n

Crypto exchange and custody provider Gemini<\/a> has just announced big changes to its insurance coverage. The company has launched its own captive insurance provider. Named Nakamoto, after the anonymous creator of Bitcoin, the new firm is licensed by the Bermuda Monetary Authority.<\/p>\n

According to a statement<\/a> by the exchange, Nakamoto will allow accredited investors using Gemini Custody up to $200 million worth of coverage. This makes it the world’s most insured crypto asset cold storage solution.<\/p>\n

As well as the cold storage insurance, the exchange will also benefit from additional cover. Both segregated crypto assets and hot wallet insurance is available.<\/p>\n

Nakamoto is a joint effort with insurance brokers Marsh and Aon. Helped by experienced partners, Gemini claims the firm will “be able to tap into broader insurance markets” and provide a high level of coverage “at optimum costs”.<\/p>\n

In today’s post Yusuf Hussain, Gemini’s Head of Risk, writes:<\/p>\n

“Insurance is essential to the health and growth of modern financial markets and we\u2019re proud to bring insurance to the crypto markets.”<\/p><\/blockquote>\n

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1\/2 We are excited to announce that Gemini Custody\u2122 now has $200M in insurance, the largest limit of insurance coverage purchased by any #crypto<\/a> custodian in the #world<\/a>!\ud83c\udf0e pic.twitter.com\/0uFS5SvNJS<\/a><\/p>\n

— Gemini (@Gemini) January 16, 2020<\/a><\/p><\/blockquote>\n