Gibraltar Blockchain Exchange to provide crypto insurance service

Posted 12 December, 2018

All cryptocurrencies listed at the Gibraltar Blockchain Exchange (GBX) have got insurance coverage.

The branch of the Gibraltar Stock Exchange, GBX platform entered into an agreement with Gibraltar-based insurance company Callaghan to secure the coverage for the assets available at the GBX, as the company stated Monday.

With this service, the platform will become even more attractive for the potential clients, as commented exchange CEO.

In November, GBX successfully passed certification with the Gibraltar Financial Services Commission (GFSC) as it was required by the blockchain guideline in this region. 

It is worth mentioning that GBX is hardly a pioneer in this sphere as the market has already seen offers of insurance for cryptos earlier. In particular, Gemini Trust Company run by the Winklevoss twins started offering insurance. Winklevoss’ company provides users with this service via the consortium created by Aon.  

For reference, the Gibraltar Blockchain Exchange was launched in July 2018 with the investments reaching $27 million.

According to the reports, the crypto insurance market is said to be worth $6 billion. The bulk of the coverage has been grabbed by crypto behemoth Coinbase.

Previous story

12 December, 2018 16:04

← Cubits announces administration process

On December 11, UK's Cubits crypto payment company has announced the appointment of the administrators.  The company posted the press release on its website saying that it has submitted an application for the administration, which will represent Cubits' creditors and mean the start of the business insolvency process. The administrators will be representatives of Opus Business Services Group Steve Parker and Trevor Binyon.

Cubits announces administration process

Next story

12 December, 2018 12:14

US CFTC targets deeper insight into Ethereum →

The US Commodity Futures Trading Commission (CFTC) wants to expand its knowledge about Ethereum, including its network, technologies and market segments that appeared afterwards. The authority filed an information inquiry saying that it is striving to get some feedback from the public regarding this technology. There are 25 issues that should be clarified that have been classified by the corresponding categories (about network, technologies, market, supervision, network management, etc.). The comments are accepted within 60 days from the date of the inquiry publication in the Federal Register. All interested parties can provide their comments via e-mail, mail or in person.

US CFTC targets deeper insight into Ethereum
Write a comment
 
Prove you’re not a bot + 5 = 17