HUB Safety Joins with Marsh to Provide Digital Asset Custody

HUB Safety is an OurCrowd Portfolio Firm

Cybersecurity supplier HUB Safety has fashioned a partnership with Marsh to offer custody providers for digital belongings to monetary providers companies.

Marsh, a part of Marsh & McLennan (NYSE:MMC) is a prime insurance coverage dealer and threat advisor that operates in over 130 totally different nations.

HUB Safety can be a portfolio firm of main world crowdfunding platform OurCrowd.

Based on a launch, monetary establishments could now custody digital belongings, together with cryptocurrency on HUB’s military-grade technological platform and buy as much as $400 million in “chilly storage” insurance coverage via Marsh’s Digital Asset Danger Switch (DART) crew thus mitigating threat. The transfer by HUB and Marsh follows an interpretive letter issued by the US Workplace of the Comptroller of the Forex (OCC) clarifying that nationwide banks and federal financial savings associations could present digital asset custody providers on behalf of consumers, together with the holding of distinctive cryptographic keys related to cryptocurrency.

Ankur Kacker, Senior Vice President and a Specie specialist on Marsh’s DART crew, says that the crypto custody market is poised to develop considerably following the OCC regulatory clarification.

“Our mixed insured storage resolution can present monetary establishments looking for to enter the market a safe place to safeguard their shoppers’ belongings and peace of thoughts understanding their exposures are coated.”

Eyal Moshe, CEO & Co-Founding father of HUB Safety, says that collectively the 2 firms can empower banks and different companies to retailer digital belongings whereas making certain they’re secure and safe.