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- Bittrex announced that they got digital asset insurance for its cold storage system to secure named cryptocurrency assets.
- Bittrex announced that they got digital asset insurance for its cold storage system to secure named cryptocurrency assets.
- Bittrex is going to provide the best security in all of its blockchain technology.
Bittrex Inc. is a well-known Blockchain technology and cryptocurrency exchange company based in the US. Bittrex and Marsh, a leading insurance broker and risk advisor, worked together to place the coverage with Arch syndicate 2012.
Arch Syndicate provides specialty insurance and casualty for corporations. This coverage will be subject to full terms, conditions, and exclusions and cover up to $300 million in case of internal issues or external thefts.
Bittrex is pretty famous for its secure and stable platform technology and, after demonstrating its level of security for exchange, received approval for the coverage. The fact that the number of cryptocurrency exchanges around the world built on Bittrex also impressed the underwriters.
Bill Shihara, the CEO of Bittrex, said that the company focuses on providing the best service to its customers while maintaining top-notch security. He added that this coverage would provide its customers with further relief from the fear of incurring a loss due to some mishap.
Bill also said that it doesn’t matter if a person is their institutional customer or just a hobbyist, Bittrex is going to provide the best security in all of its blockchain technology. It is a well-known fact that having insurance pays a significant role in the growth and development of any business.
This fact holds even for companies working with blockchain technology. Sarah Downey, co-leader of Marsh’s Digital Asset Risk Transfer (DART) team, said that they worked closely with Bittrex on this project.
Marsh provided a custom-made insurance solution that fits their specific demands as an organization that deals with digital assets and cryptocurrency exchange. This project is the latest example of Marsh’s contribution to helping with the further advance of cryptocurrency and the digital asset industry.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
