Gemini Trust Obtains Insurance for Customer’s Crypto Assets

By Annie Massa | October 4, 2018

Gemini Trust Co., the digital-asset exchange founded by Cameron and Tyler Winklevoss, said that it secured insurance for customers’ digital assets.

The company obtained insurance coverage for virtual currency it holds on behalf of clients in online wallets, according to a release Wednesday.

The coverage comes through a consortium of insurers globally arranged by Aon Plc, according to the release, and will add to Federal Deposit Insurance Corporation deposit insurance on their U.S. dollars.

The news comes as the exchange looks for ways to signal it’s a safe intermediary in the legally murky zone of digital wealth. Gemini won New York state approval in September to launch a cryptocurrency pegged to the U.S. dollar, called the Gemini Dollar.

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