Major Exchange Gemini Now Providing Insurance For Customers’ Cryptocurrencies

In a new announcement that took the global crypto news headlines by storm, Gemini announced a new insurance on cryptocurrencies that will help all of the Bitcoin and altcoin holders active on the exchange to ‘secure their funds’ and get ‘insured protection’ according to the exchange.

In a press release, the exchange announced the new coverage on custodial digital assets, which is already effective (since October 1st, 2018) and provided on digital assets that are held in Gemini’s custodial service.

The partnership includes Aon, which is a leading global professional services firm that offers a range of risk, retirement and health solutions – which arranged the partnerships “through a global consortium of industry’leading insurers.”

The Head of Risk at Gemini, Yusuf Hussain, recently stated:

“Consumers are looking for the same levels of insured protection they’re used to being afforded by traditional financial institutions. Educating our insurers not only allows us to provide such protections to our customers, but it also sets the expectation for consumer protection across the crypto industry.”

It is safe to say that Gemini stirred up a lot of attention recently, especially with the launch of new products and new services such as this insurance – as well as the Gemini Dollar (GUSD) as the new dollar-pegged stablecoin that looks very promising in the marketplace.

The owners of the exchange, the Winklevoss twins, are also very active – both in the crypto circles and in the Wall Street circles – aiming at bringing cryptocurrencies closer to people and the NASDAQ.