MPCH, a provider of crypto storage solutions, has partnered with Canopius, a global specialist insurer and non-life insurer, to provide enhanced insurance coverage for digital assets at rest. This new collaboration aims to strengthen the security framework for digital assets by providing professional custody insurance and protect against potential loss or damage that could render cryptocurrency assets unrecoverable.
MPCH utilizes advanced cryogenic cold storage solutions featuring sensitive compartment information facilities, custom hardware security modules designed based on zero trust and zero knowledge principles, and multi-party computing technology. Canopius brings insurance expertise to partnerships to deliver products tailored to address the unique risks associated with digital asset security.
Miles Parry, CEO of MPCH, said of the partnership: “Collaborating with Canopius is an important milestone in the advancement of security within the tokenized ecosystem. By combining Canopius’ powerful insurance solutions with advanced encrypted storage capabilities, we have strengthened our ability to protect sensitive digital assets and provide our customers with the confidence they need to operate in the digital world. Our goal is to provide a scalable, customizable insurance solution that effectively solves the problem of private key protection.”
The announcement follows Canopius’ recent initiative to strengthen its cyber insurance offering in collaboration with Group-IB and Marsh’s launch of a new insurance facility in March. Marsh provides up to $825 million in coverage to digital asset custodians around the world, including a variety of custody solutions. Includes both refrigerated storage and other methods.
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