Insurance is key for financially securing important assets. Yet, the cryptocurrency sector — which is predicted to reach a global market size of $4.94 billion by 2030 — may be lagging behind when it comes to insuring digital assets.
For instance, it’s been noted that less than 1% of all crypto investments are currently insured. This statistic is alarming, considering the rapid growth and high-risk profile associated with today’s cryptocurrency market.
Ben Davis, team lead for digital assets at Superscript — a British startup and Lloyd’s of London-licensed insurance broker — told Cointelegraph that crypto has been marginalized when it comes to insurance solutions.
“Superscript has spent years focusing on insurance for emerging tech fields. I lead a team that focuses specifically on crypto and never in my career have I seen an industry more marginalized,” he said. Although the cryptocurrency sector is advancing, Davis believes that it continues to lack insurance solutions due to the...
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