{"id":232196,"date":"2021-04-21T16:00:00","date_gmt":"2021-04-21T13:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitgo-expands-crypto-insurance-to-cover-over-700m\/"},"modified":"2021-04-21T16:00:00","modified_gmt":"2021-04-21T13:00:00","slug":"bitgo-expands-crypto-insurance-to-cover-over-700m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitgo-expands-crypto-insurance-to-cover-over-700m\/","title":{"rendered":"# BitGo expands crypto insurance to cover over $700M"},"content":{"rendered":"<p>&#8220;<strong># BitGo expands crypto insurance to cover over $700M <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvNDcyNWNjOGMtZTljYy00ZjVhLTk4Y2YtNzViZDFkMjY1NzExLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Digital asset custody firm BitGo has expanded its cold storage insurance program, raising its insurance capacity by $600 million.<\/p>\n<p>BitGo debuted its crypto insurance program through global insurance and reinsurance market Lloyd\u2019s of London in 2019. This enabled BitGo clients to acquire insurance for their digital assets held on BitGo\u2019s Business Wallet service and Custodial offering for up to $100 million.<\/p>\n<p>BitGo announced Wednesday that its \u201cDedicated Customer Excess Specie\u201d insurance program has been expanded to cover assets valued at over $700 million.\u00a0<\/p>\n<p>The expansion comes in response to strong demand from institutional custody clients. The excess insurance program was introduced in collaboration with insurance brokers Woodruff Sawyer and Paragon International Insurance Brokers of London.\u00a0<\/p>\n<p>As Cointelegraph previously reported, major crypto payment platform Crypto.com became one of BitGo\u2019s first clients to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20200318005088\/en\/BitGo-Launches-First-Dedicated-Customer-Excess-Specie-Insurance-Purchasing-Program\">take advantage of the dedicated customer excess limits policy<\/a>.<\/p>\n<p>\u201cDue to BitGo\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and scale, we\u2019re able to offer a lower cost Dedicated Customer insurance program on top of BitGo\u2019s secure cold storage system. This milestone demonstrates that the offering has been very popular with clients seeking the ultimate secure and insured storage,\u201d BitGo CEO Mike Belshe said.<\/p>\n<p>Backed by banking institutions like Goldman Sachs as well as major crypto firms such as Mike Novogratz\u2019s Galaxy Digital, BitGo is a major crypto security firm and cold wallet service. Amid the growing crypto market, the company saw its digital assets under custody surpass $16 billion in late 2020.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitgo-expands-crypto-insurance-to-cover-over-700m\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# BitGo expands crypto insurance to cover over $700M &#8221; Digital asset custody firm BitGo has expanded its cold storage insurance program, raising its insurance capacity by $600 million. BitGo debuted its crypto insurance program through global insurance and reinsurance market Lloyd\u2019s of London in 2019. This enabled BitGo clients to acquire insurance for their&#8230;<\/p>\n","protected":false},"author":1,"featured_media":232197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvNDcyNWNjOGMtZTljYy00ZjVhLTk4Y2YtNzViZDFkMjY1NzExLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,80559,74863,74355,117,70299],"class_list":["post-232196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitpay","tag-cryptocurrencies","tag-adoption","tag-business","tag-insurance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=232196"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/232197"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=232196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=232196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=232196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}