Lloyd’s of London Insures More Than 30 Cryptos Through Kingdom Trust
Kingdom Trust, a UK company offering crypto custodial services, has officially been insured by Lloyd’s of London. The firm has developed a storage infrastructure that holds more than $12 billion dollars in assets. Additionally, the company holds more than 30 different cryptos such as Litecoin (LTC), Bitcoin (BTC), and Ethereum (ETH).
Lloyd’s of London Protects $12 Billion of Crypto Assets
This decision to work with Lloyd’s of London aims at increasing the safety and trust provided to investors. Additionally, Kingdom Trust wants to attract new companies ready to properly store their assets.
Matt Jennings, CEO of Kingdom Trust, said that a crypto custody company secured is a top priority for institutions. If they want to invest in the cryptocurrency world, they must know that there are companies protecting them at all times.
About it he mentioned:
“Qualified crypto custody by an insured, regulated financial institution is a critical hurdle and top priority for institutions to invest in the crypto market. By adding another trusted expert such as Lloyd’s of London to their platform, they are guaranteeing that present and future customers will have access to a complete, highly secure safekeeping solution designed to meet institutional finance challenges.”
Lloyd’s of London is an important and recognized insurance firm. It has worked in the past in many different industries and now is searching a place in the crypto industry. This is quite important for institutional investors, as they are searching for regulated entities and important names to ensure asset security.
Kingdom Trust is also a very important firm that has over a hundred thousand customers. It has invested in Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), XRP and many other virtual currencies throughout the last few years.
In the future, the company announced that it would like to add support to more digital assets. In this way, Kingdom Trust would be able to reach more and more investors worldwide. With Lloyd’s giving it an official designation, that path may be easier to come by.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.