Cybersecurity experts offering top-tier storage solutions for cryptocurrency-related platforms have recently increased their insurance policies to offer up to $1 billion in coverage. This move is designed to reinstill confidence in the market, bringing peace of mind to financial institutions around the world.
The demise of FTX has not only caused a ripple effect on market prices but also shattered trust in the digital asset market. Following the crash, the Google search for “self custody” reached a record high and hardware wallet sales soared, with Ledger reporting its highest sales week in its history.
In a welcome move to prove that not all crypto platforms are the same, GK8 has partnered with USI Insurance Services to up its ante. GK8 has long since been a leader in the digital asset custodian and cybersecurity market, offering the highest digital asset policy on the market today remains synonymous with their brand.
GK8’s revised insurance policy offers up to $1 billion coverage for clients utilizing its offline cold wallet, and up to $125 million for clients storing assets through its multiparty-computation-based institutional wallet.
To combat institutional investors' concerns regarding safety and regulation, this move promises to “increase the peace of mind and protect all the [assets under management] of their clients fully” says Lior Lamesh, GK8’s co-founder and CEO.
GK8 have been a longtime partner of Oobit, providing their trailblazing innovation and cybersecurity expertise to the storage of digital assets on the platform. Integrating GK8’s first-of-its-kind air-gapped vault into the platform, customers gained access to the proprietary MPC network that allowed for cold wallet storage while still being able to access the various blockchains.
Users automatically gain access to these storage solutions when creating an account on Oobit. With a wide range of supported cryptocurrencies, and insurance from the market leader in cybersecurity solutions and crypto insurance coverage, customers can rest assured that their digital assets are always protected with Oobit.
Oobit Technologies Pte, 50 Raffles Place #37-00 Singapore Land Tower, Singapore (048623). is a company registered in Singapore (no:201716443G), that has been approved as Appointed Representative of Oobit Technologies OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415, (no: 14852617 ). Which is authorized and regulated by the FIU (no: FVR001421 and FRK001304).