OTTAWA, Ontario, April 24, 2020 /PRNewswire/ -- Brane Inc., a leading digital asset exchange and custodian, announced today that the company has obtained full crime insurance coverage for custodied digital assets through a global consortium of industry-leading insurers and arranged by one of the world's largest insurance brokers. Brane's insurance coverage includes all currency or funds on hand, in addition to any digital assets under custody. The coverage is for $5 million per incident - meaning each wallet carries this level of coverage. There is no limit to the number of wallets Brane can deploy.
In obtaining approval for coverage, Brane successfully demonstrated to underwriters that the company has leading, best-in-class digital asset custodial systems and processes. This also provides peace-of-mind security for Brane's custodial customers.
"Digital asset consumers expect the same levels of insured protection they are accustomed to receiving from traditional financial institutions," said Thomas Gerginis, President and CEO, "and this does exactly that. Brane continues to write the book on the gold standard of digital asset custody."
Founded in 2017, Brane is a Canadian-based fintech company focused on offering institutions world class digital asset custody solutions around the globe. Brane is ISO 27001 certified - first in the world with cryptocurrency in scope, ISO 27017 certified, and NIST Tier 4 - the first company in Canada, in any industry such a certification. Brane offers advanced proprietary technology and processes with over 20 provisional patents, supports all digital assets, and is fully insured against theft and crime.
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SOURCE Brane Inc.