HUB Security and Marsh unveil new digital asset solution for custodians
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HUB Security and Marsh unveil new digital asset solution for custodians 02 October 2020Tel Aviv Reporter: Maddie Saghir
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HUB Security has collaborated with Marsh to create an insured storage solution that enables US-based financial institutions to securely offer digital asset custodial services.
As part of the partnership, financial institutions can now store and manage digital assets, including cryptocurrency, on HUB's technological platform.
In addition, firms can purchase up to $400 million in cold storage insurance through Marsh's Digital Asset Risk Transfer (DART) team to cover the risk of theft or damage to the assets or destruction of private keys.
"The crypto custody market is poised to grow significantly following the OCC regulatory clarification,” said Ankur Kacker, senior vice president and a specie specialist on Marsh's DART team.
Kacker continued: "Our combined insured storage solution can provide financial institutions seeking to enter the market a secure place to safeguard their clients' assets and peace of mind knowing their exposures are covered."
"Together, HUB and Marsh are empowering banks and other financial institutions to offer services for storing their clients' digital assets by ensuring they are digitally secure and protected," said Eyal Moshe, CEO and co-founder of HUB Security.
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