This is part of the construction of the Amber Group’s comprehensive global insurance plan, which amounts to more than $ 100 million in coverage, which is expected to grow as the asset management company’s business grows.
Amber Group has provided comprehensive global insurance coverage, protecting digital assets stored in the portfolio infrastructure on behalf of clients.
The infrastructure of the digital asset platform’s portfolio is already covered by a direct insurance policy, indirect coverage and insurance against theft protection.
The two providers behind full coverage are Lloyd’s Arch Syndicate 2012 and OneDegree, the first InsurTech company in Asia to provide digital asset insurance backed by a multi-year reinsurance partnership with Munich Re.
Amber Group has also introduced a proactive measure against fraud, loss and theft through Coincover-protected Theft Protection, an advanced technology insured by some insurers at Lloyd’s of London.
All of this is part of building Amber Group’s comprehensive global insurance plan, which amounts to more than $ 100 million in coverage, which is expected to grow as its asset management business grows.
Michael Wu, CEO of Amber Group, said: “The global crypto market is expanding exponentially, but the increase in cybercrime incidents in the crypto space is still a major concern for many investors. As we continue to stimulate the adoption of digital assets worldwide, Amber Group is extremely committed to maintaining the highest security standards for our customers. Security, reliability and confidentiality are the basic principles of our industry and these are the same factors that will determine the overall success of the industry as we work to realize the future of finance. Our company prides itself on serving as a reliable digital asset platform for our clients, and we will continue to provide our clients with the most robust security measures and global insurance coverage possible for our portfolio infrastructure. “
Alvin Quoc, co-founder and CEO of oneDegree, added: “We are pleased to provide OneDegree Digital Asset Insurance to Amber Group. Amber Group demonstrates competence in security, control and process integrity through our comprehensive review of OneDegree Cymetrics’ own cybersecurity solution and our reinsurance partner Munich Re. OneDegree will continue to provide our expertise and insurance capacity to serve the wider web3 community and transform the industry with improved security and trust.
David Janczewski, CEO of CoinCover, commented: “We are proud to support such a pioneering company in their mission to make crypto safer. By combining Coincover’s proactive anti-theft technology with comprehensive insurance coverage, the Amber Group is truly at the forefront of reducing the risk of crypto investors around the world. We are excited to see how this affects the wider perception of digital assets and crypto finance.
The Amber Group digital assets platform was recently acquired by Celera Markets Limited to carry out the relevant regulated activities under the auspices of Type 1, 2, 4, 5 and 9 licenses from the Hong Kong Securities and Futures Commission.
Celera is a discretionary asset management company fully licensed by the Hong Kong Securities and Futures Commission (SFC), which specializes in traditional securities and derivatives brokerage services.
Amber Group’s goal with the acquisition of Celera Markets is to use the inevitable synergies to expand the supply of advice and transactions for financial instruments, while adhering to the regulatory parameters set by the SFC.
Earlier this year, the Amber Group subsidiary WhaleFin Japan acquired the cryptocurrency exchange DeCurret Inc. in a move that marks the group’s entry into Japan after acquiring a crypto-asset exchange service provider (CAESP) registered with the Japan Financial Services Agency (FSA).
DeCurret is one of 30 registered CAESPs operating in Japan since 2018 and is supported by 35 shareholders, including leading Japanese financial institutions and corporations.