21M Insurance, a Singapore-based digital asset insurance provider, has announced a strategic partnership with Cobo, one of Asia's leading crypto custody platforms, to introduce a new generation of crypto coverage powered by multi-party computation (MPC) technology. The collaboration, announced in early November 2025, aims to address critical industry challenges by securing digital assets while providing institutional-grade insurance protection.
The partnership integrates Cobo's MPC wallet infrastructure into 21M's insurance solutions, enhancing protection against theft, key compromise, and operational loss. MPC technology distributes cryptographic keys across multiple parties, eliminating single points of failure that have led to past exchange and wallet breaches. This approach aligns with tightening regulatory requirements in jurisdictions like Singapore, Hong Kong, and the European Union.
Initially, the focus is on safeguarding Bitcoin-denominated whole life insurance policies, with future plans including policy tokenization, asset management services, and support for DeFi lending protocols. The move reflects a broader industry trend toward blending advanced cryptography with regulated insurance structures, potentially setting a new standard for institutional asset protection. Currently, less than 3% of total crypto holdings are insured, highlighting the significant insurance gap this partnership seeks to bridge.
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