Canopius launches digital asset custody product in Lloyd's Asia platform

It offers to cover up to $130m for eligible custody solutions.

Global speciality reinsurer Canopius' digital asset custody solution is now available in Lloyd’s Asia platform.

The solution offers protection for the custody of digital assets.

The solution will secure the generation and storage of private keys used in transferring digital assets on a blockchain. Further, it offers coverage up to $130m for eligible custody solutions, combining traditionally separate coverages found in the Crime and Specie markets. 

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It is designed to cater to financial institutions and offers comprehensive protection for a wide range of digital assets, encompassing cryptocurrencies, stablecoins, as well as various types of crypto tokens, including non-fungible tokens (NFTs) and asset-backed tokens, Canopius said in a press announcement.

The launch follows the product Canopius Syndicate 4444 ventures in London, which also signalled a growing demand in the APAC region for digital asset holdings