Tel Aviv, Israel, Oct 1, 2020 / PRNewswire / – HUB Security, a leading provider of hardware cybersecurity solutions, today announced that it has partnered with Marsh, the world’s leading insurance broker and risk advisor, to provide a unique insured storage solution that enables U.S. financial institutions to stay safe and secure to work offer custody services for digital assets.
Financial institutions can now store and manage digital assets, including cryptocurrency, on HUB’s military technology platform and up to $ 400 million “Cold Storage” insurance from Marsh’s Digital Asset Risk Transfer (DART) team to cover the risk of theft or damage to assets or destruction of private keys.
The solution, which is supported by A-rated insurers, follows the US Office of the Comptroller of the Currency (OCC) letter of interpretation from August, which clarifies that national banks and federal savings banks can offer cryptocurrency custody services on behalf of customers, including of holding unique cryptographic keys associated with the cryptocurrency.
“The crypto custody market will grow significantly after the clarification of the OCC regulation,” said Ankur Kacker, Senior Vice President and Specie Specialist on the Marsh DART team. “Our combined insured storage solution can provide a safe place for financial institutions entering the market to protect their clients’ assets and reassurance that their risks are covered.”
“Together, HUB and Marsh enable banks and other financial institutions to provide services for storing their customers’ digital assets by ensuring that they are digitally safe and secure,” said Eyal Moshe, CEO & Co-Founder of HUB Security.
About HUB security
Hub Security is a premier provider of programmable HSM and military-grade key management solutions for fintech, cloud and blockchain security. By employing military grade cybersecurity tactics and leveraging cutting edge innovations, HUB Security has developed a family of products that offer the highest level of corporate security available on the market today. https://hubsecurity.io/
About Marsh
Marsh is the world’s leading insurance broker and risk advisor. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and residential clients with data-driven risk solutions and advisory services. Marsh is part of the Marsh & McLennan Companies (NYSE: MMC), the world’s leading professional risk, strategy and people services company. Annual sales are approaching $ 17 billion and 76,000 colleagues worldwide, MMC helps its customers to find their way through four market-leading business areas in an increasingly dynamic and complex environment: Marsh, Fellow carpenter, Mercer and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube or subscribe to BRINK.
SOURCE hub security
related links
https://hubsecurity.io/
