Gemini Exchange Secures Digital Asset Insurance

A consortium of global insurance has offered its services to the Gemini exchange.
A private cryptocurrency exchange called Gemini has informed customers that insurance for their assets is available.a report said a professional services firm called aon, that organized a collective of leading insurers to be introduced to digital assets.
The new virtual security insurance policy is the second system that stands with the FDIC insurance system.
Yusef Hussain of Gemini told how Gemini was able to achieve this feat while talking with leading insurers from all over the country .
One man noted how the news was great for “people who are on the fence with the crypto-investment”. Another one congratulated Gemini for ensuring the coverage “with a firm economical model”.
According to Hussain, many insurers were not keen on extending coverage into the cryptocurrency world due to concerns about internet security and internal control standards.
However, Hussain says that consumers are looking for the same levels of insured protection they’re used to being afforded by traditional financial institutions. Some are speculating Gemini has been working to secure insurance coverage in order to demonstrate to current (and potential) customers how they stand as a safe entity in a cryptocurrency world with many legal grey areas.
The insurance announcement seems to be good for a month when the Gemini exchange co-founders Cameron and Tyler launched its stablecoin, that received a approval from New York regulators .
This cryptocurrency has won the endorsement of the Bitcoin Foundation, Charlie Shrem, that compared it with the Golden Gate and the Verrazano bridge.
Coinbase secured an e – financial license from UK regulators and has enjoyed a banking partnership with barclays .bithumb is currently planning on creating an office in Britain by the end of 2018.

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