Industrial insurer HDI Global SE has developed an insurance solution for US company Hoyos Integrity Corporation. The provider of hot wallets used for storing bitcoin and other digital currencies is thereby reinforcing the “Hoyos Promise of Security” provided to its users. Hoyos Integrity Corporation specializes in digital services and device development for protected communication and the secure storage, custody and transfer of digital assets. With its unique security solution, the company counts itself among the leading providers of hot wallets.
The cooperation with HDI Global enables Hoyos to provide its customers with a “Promise of Security” when they are registered users. The risks associated with a security breach are then assumed by HDI Global which in turn enables and protects Hoyos’ pioneering business.
“Target for hacker attacks”
“Increasingly high-value assets are being stored in digital form as a result of the boom in cryptocurrencies. As such, hot wallets are therefore more and more often the target for hacker attacks”, notes Meryem Seyyar, Head of Digital Solutions at HDI Global SE. “Through our insurance solution for Hoyos we are making an important contribution to the security of Hoyos, their users and adoption of digital assets globally. This is a good example of how we are fulfilling our purpose within the HDI Group: Together we take care of the unexpected and foster entrepreneurship.“
Hector Hoyos, founder and CEO of Hoyos Integrity Corporation values the know-how brought to the table by HDI Global’s Digital Solutions Team and highlights the significance of the partnership with the industrial insurer from Germany: “We are absolutely delighted to be able to offer our ‘Hoyos Promise of Security’ with the backing of HDI. Going forward, we hope to continue working with HDI Global on developing additional insurance solutions for some of our other existing and planned products allowing us to expand the ‘Promise of Security’ to our entire portfolio.”
The Hoyos wallet is available for both iOS and Android devices and supports the most common types of cryptocurrency such as ERC20 tokens and Hoyos’ own proprietary “RISEN” (RSN) tokens. Since the wallet also holds digital fiat currencies, it can be used for almost all online and retail transaction and banking applications.
Matthew Hammer, Underwriting Manager Autonomy & Technology at HDI Global, comments: “In my assessment, the expertise at Hoyos and their innovative products in the field of data, telecommunications and digital assets rank among the best in class. It’s exciting to support Hoyos with innovative insurance solutions and look forward to continued cooperation with our new partner supporting their product developments and `Promise of Security’ while contributing our own know-how.”