Bitstamp Introduce Crime Insurance Policy To Protect Crypo Assets

​European based cryptocurrency marketplace Bitstamp announced that it has secured an additional crime insurance policy to protect the digital assets held at the platform.

Crime insurance policy is offered by Paragon International Insurance Brokers in coordination with Woodruff Sawyer, and underwritten by various insurance companies and certain syndicates at Lloyd’s of London. 

Under the new policy, Bitstamp provides additional protection covering crime-related cases, such as employee theft, loss while the assets are stored at any premises, loss in transit, loss caused by computer fraud or funds transfer fraud, and loss related to legal fees and expenses.

Bitstamp already stored 98% of digital assets with BitGo, a leader in institutional digital asset custody, trading and finance.

Clients of the company will now be protected by exixting cold wallet insurance and a seperate crime insurance policy as well.

MihaGr ar, Bitstamp's head of global business development, stated: "By introducing an additional crime insurance policy, we can extend the coverage of assets held by Bitstamp and protect customers in any circumstances they may encounter."

About Bitstamp

Bitstamp is the world’s longest-standing cryptocurrency exchange, continuously supporting the Bitcoin economy since 2011. With a proven track record and mature approach to the industry, Bitstamp provides a secure and transparent venue to over four million customers and enables partners to access emerging crypto markets through time-proven infrastructure.