The Gibraltar Blockchain Exchange Announces Insurance Coverage for Crypto Assets

By Aubrey Swanson·11 December 2018·1 min read

Key Points

Gibraltar's GBX digital asset exchange announced insurance coverage for its GBX-DAX secondary platform through a partnership with Callaghan Insurance, a Gibraltar-based firm.
The coverage applies to h

Gibraltar's GBX digital asset exchange announced insurance coverage for its GBX-DAX secondary platform through a partnership with Callaghan Insurance, a Gibraltar-based firm. The coverage applies to holdings stored in both hot and cold wallets, providing traders explicit guarantees regarding security and transparency.

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CEO Nick Cowan stated: "We are delighted to announce the introduction of insurance coverage for the GBX-DAX. This offering is only possible because of the confidence derived from the fact that the GBX has always been committed to building a platform focused on the highest regulatory standards and the strictest due diligence processes."

The exchange launched in July and received a full operating license from the Gibraltar Financial Services Commission in November, concluding a six-month application and risk assessment process.

Cowan added: "Partnering with Callaghan Insurance highlights the relentless efforts being made by businesses and regulators in Gibraltar to provide a sustainable environment for blockchain development."

GBX operates the world's first fully regulated blockchain trading platform, a distinction enabled by Gibraltar's January establishment of a dedicated regulatory framework for blockchain technology. That framework made Gibraltar the first jurisdiction to adopt comprehensive cryptocurrency and blockchain regulations.

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