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Tarulika Jain
Mar 19, 2020

BitGo Announces Excessive Insurance Via Lloyds Of London

BitGo
Rodrigo Vicuna, CFO of BitGo, confirmed that the company is all set to attract new investments amid the recent global economic situation. He cleared that BitGo will offer additional insurance coverage to its customers above its existing policy of $100 million through Lloyds of London.

BitGo Offers “Excess Specie Insurance”

The existing policy of $100 million is given through the Lloyds of London, which will be stepping ahead for “Excess Specie Insurance” as per the information provided by the team of BitGo. The recent step of excessive coverage is based on the feedback of clients. The clients wanted to gain the ability to buy their dedicated excess limits. Still, the number related to coverage of insurance has not been disclosed by the company. The CFO hinted that for small exchanges, the policy of $5-10 million and for large investors more than $10 million plan could be released.

The BitGo further tried to gain the confidence of the investors by stating that the minimum and maximum limits will be adjustable as per the needs of clients. Mike Belshe, CEO of the BitGo patted his own back while explaining that new policy will provide the additional protection to the crypto assets of the clients which are tailored as per specific needs of the users. The digital trust company has made sure that excess insurance will be provided for cold storage wallets only To safeguard the invested funds of the clients.

The digital trust and security company BitGo has the vision to become a complete package of the financial services for institutional investors. It was founded in 2013, and since then notable investors like Goldman Sachs’, Galaxy Digital Ventures and many more have funded the company visualising its potential for future of crypto markets.

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    BitGo Announces Excessive Insurance Via Lloyds Of London
    Tarulika is an engineering graduate and an eloquent crypto blogger. Being a digital economy supporter, she keeps herself updated with the latest innovation in the crypto industry, Blockchain Technology, Internet of Things and other technologies. Currently, she curates the simple and interesting content for Crypto guides for beginners. If you want to learn more about the cryptocurrencies, latest trends of blockchain-powered AI applications, you are free to follow her on LinkedIn and Twitter.

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