Evertas, a crypto insurance company, has secured $14 million in investment, highlighting the demand for security in the face of the bearish crypto market collapse.
After receiving $5.8 million in seed capital last year, Polychain Capital led a $14 million Series A round, bringing the firm's total outside investment to $19.8 million.
Evertas CEO J. Gdanski stated that his team has put in a lot of effort to develop a policy framework for the hazards associated with common classifications of digital asset storage, such as "hot," "warm," and "cold storage."
"There are things that come out of these massive crises in the space that we’ve had in our underwriting for three or four years,"
In an interview with CoinDesk, Gdanski stated. "That includes things like trust accounts, segregation of assets, clear delineation of ownership in the event of bankruptcy or insolvency, having appropriate boards in
In an interview, Gdanski stated, "We’ve come up with the most comprehensive policy form and product that’s out there, where it’s very clear what is and is not being covered, resolving a lot of the legal ambiguities and technical inaccuracies."
Due to the hefty premiums and ambiguous insurance requirements, several cryptocurrency exchanges have not insured wallets against theft, natural catastrophes, and hacking. But according to J. Gdanski, CEO of Evertas, getting insurance for assets at this precarious time of unforeseen breakdown assures that a third-party expert underwriting agency has examined and analyzed a firm's systems and controls.
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