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Wednesday, October 27, 2021
Home News Kingdom Trust Launches Lloyd’s of London-Insured Qualified Custody Platform for Digital...

Kingdom Trust Launches Lloyd’s of London-Insured Qualified Custody Platform for Digital Currency

Kingdom Trust, the first regulated financial institution to offer qualified custody for digital asset investments like Bitcoin and Ethereum, has secured insurance for digital assets held on its qualified custody platform through one of the world’s most respected insurers, Lloyd’s of London. The insurance, which was successfully placed by broker SDBIC, marks a solid resolve for institutional investors seeking to enter the crypto marketplace.

“Qualified custody by a regulated, insured financial institution is a top priority and critical hurdle for institutions to invest in the digital asset markets,” says Matt Jennings, CEO  of Kingdom Trust. “By adding another trusted specialist like Lloyd’s to our platform, we’re ensuring that current and future clients will have access to a highly-secure, complete safekeeping solution tailored to meet the challenges of institutional finance.”

The company recently released a white paper clarifying the concept of “qualified custody.” The white paper, written by Jennings, outlines why the cryptocurrency marketplace benefits from the inclusion of qualified custodians like Kingdom Trust.

As a qualified, independent custodian, Kingdom Trust provides over 100,000 clients (with over $12 billion in assets under custody) a level of security, accounting, reporting and insurance for digital currencies not found elsewhere in the marketplace.

The company’s initial platform accommodated custody for four digital currency assets but now provides custody services for over 30 different assets, including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Litecoin, Ripple and recent additions of ZCash and Stellar Lumens —with many more on the horizon.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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