Liminal Working With Canopius on Digital Wallet Insurance

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Liminal, a wallet operations infrastructure, today unveiled an additional protection for customers. The insurance covers Liminal’s backup keys, which serve as a failsafe to recover lost Liminal keys. Canopius, a global specialty (re)insurer and Lloyd’s of London syndicate, wrote the $50 million policy, which was placed by Costero Brokers, a Lloyd’s of London broker.

Liminal utilizes robust risk management measures including multisig wallet infrastructure, both hot and cold wallets, backup keys and now Insurance to provide digital asset holders both secure and convenient access to their funds. These protections help individuals and businesses benefit from the autonomy and potential of decentralized finance with the peace of mind that their assets are protected. With Liminal’s help,
businesses may grow sustainably and maintain high consumer confidence.

Mahin Gupta, founder of Liminal, emphasizes the importance of such safeguarding, stating,

“Though unfortunate, it’s a reality that investors have experienced an increased potential for lost funds. Hence, Liminal aims to help protect users from these threats and establish several layers of protection. This extra step helps make Liminal one of the safest, and insured wallet platforms for businesses or individuals to use.”

Liminal’s platform is built for safe, secure asset management and Insurance provides peace of mind for businesses and their stakeholders.

“Businesses, especially in crypto-native industries, need to manage risk. One of the best ways to ensure your funds and operations are safe across the board is to have insurance protection,” Manan Vora, Sr. Vice President of Operations and strategy at Liminal, said. “We decided to work
with the best insurance providers in the industry to protect customers on our platform.”

James Gadbury, Divisional Director for Costero Brokers Limited, says other crypto companies will benefit from Liminal’s security. “Liminal is taking the necessary steps to empower individuals and other Web3 companies to grow. Layers of protection, including insurance, provide additional certainty in otherwise mutable industries.

As a rapidly-growing company, Liminal’s added coverage represents a milestone in establishing its permanence. Earlier this month, Liminal announced the successful integration of the Smart Refill Solution, an automated function designed to seamlessly refill digital assets in hot wallets
held on the platform. Thus far, the Smart Refill Solution has saved more than 190 manual hours of work by automating more than $450 million USD in refills on predefined schedules.

About alastair walker 9347 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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