Crypto.com has obtained a $120 million insurance policy to protect digital assets held in its U.S.-based custody platform, Crypto.com Custody Trust Company. The coverage is arranged by London-based insurance firm Aon, with underwriters from Lloyd's of London.
The insurance plan allocates $100 million to cover physical loss, theft, or damage to customer assets held in cold storage, which represents the core security method for institutional digital assets. An additional $20 million is dedicated to protecting against crime-related incidents such as fraud, third-party theft, and other criminal acts.
Crypto.com Custody Trust Company provides custodial solutions targeting North American institutions, aiming to bolster asset protection and client confidence. This insurance policy covers risks through the first quarter of 2025 and reflects a strategic focus on security, compliance, and regulatory standards amidst evolving threats to crypto custody.
Crypto.com recently expanded its presence in North America, including opening an office in Washington D.C. This expansion is supported by a favorable regulatory climate and recent positive developments such as the SEC ending its investigation into Crypto.com.
Additionally, Crypto.com partnered with Canary Capital Group to launch the Canary CRO Trust, giving regulated investment exposure to the CRO token, part of their growth in institutional product offerings.
The cryptocurrency insurance market remains limited, with only about 22% of exchanges covered. Crypto.com’s initiative highlights the growing importance of insurance in safeguarding institutional assets and enhancing trust in custody services.