Expands Crypto Insurance to $750M

  • The crypto exchange expanded its crypto insurance to $750 million after increasing its policy coverage led by Arch Underwriting at Lloyd’s Syndicate.
  • was able to secure its insurance policy in a “much shorter time frame” thanks to its partnership with Ledger Vault. logo above dollars


Leading cryptocurrency platform has been able to enhance its total insurance coverage to $750 million, the company said in a press release shared with The Chain Bulletin on 20 September.

According to the announcement, the new insurance programme includes both direct and indirect custodian coverage, and is one of the largest is the crypto industry. The renewed policy — that took effect on 6 September — was led by insurance giant Arch Underwriting at Lloyd’s Syndicate, and will protect the company’s more than 10 million users from third-party theft, damage, and destruction.’s co-founder and CEO, Kris Marszalek, said in a statement:

“We believe that security and data privacy are the foundations of achieving mainstream cryptocurrency adoption. The renewed policy from Lloyd’s will significantly expand security protection for our growing user base, together with our previous large policy and ongoing proactive ‘Defense in Depth’ approach.”

James Croome, head of Fine Art & Specie for Arch Underwriting, said was able to secure the new insurance policy in a “much shorter time frame than is ordinarily the case” thanks to its partnership with Ledger Vault, which gave underwriters the “necessary confidence” in’s custodial security.

Back in May, when had only around two million users, the company was able to secure a total crypto insurance of $360 million, again with the help of Arch Underwriting. With its current capacity of $750 million, has finally stolen the top spot in crypto insurance from BitGo’s $700 million “Crime/Excess Specie insurance”.

Related Coverage Hits Regulatory Milestone in Korea After Two Acquisitions
  • secured an Electronic Financial Transaction Act registration by acquiring PnLink, and a VASP registration from buying OK-BIT.
  • While it remains unknown if the exchange can offer its full suite of services in the country, the VASP registration allows it to provide crypto exchange and custody services.
August 8, 2022, 11:21 AM
Kris Marszalek, Co-Founder and CEO at

Kris Marszalek, Co-Founder and CEO of, during RISE 2018 conference, Hong Kong, June 2018. Seb Daly/RISE via Sportsfile

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