Kingdom Trust: Custody Service to Be Insured by Lloyd’s of London

Kentucky-based institutional storage platform, Kingdom Trust which claims to control assets worth $12 billion has officially announced that its reserves will be insured by Lloyd's of London.

Kingdom Trust is the first licensed financial institution that to offer storage of digital assets and investments like Bitcoin and Ethereum, the firm has also been able to offer its clients access to registered investment advisors.

The new development gives the firm an edge over its competitors as Lloyd’s of London is the world’s insurance market. It is generally known as Lloyd’s has its headquarters at London and operates in over 200 countries and territories.

Matt Jennings, Kingdom Trust‘s CEO, stated on Tuesday that the firm had always seen insurance as a tool to bring institutional investors into the crypto investment market. Jennings added that the addition of Lloyd’s of London to their platform will allow existing and future customers to access to secured institutional finance-tailored solutions.

The firm earlier released a whitepaper which explains the concept of qualified custody. The whitepaper which was authored by Jennings outlined that benefits crypto investors and traders get from qualified custodians like kingdom trust.

Kingdom Trust’s Profile

Kingdom Trust offers individual and institutional custody solutions. The firm claims to comply with current U.S. security and exchange commission (SEC) regulations. The firm gives its customers the options of investing in private funds, publicly traded funds, and hedge funds. However, for customers that interested in cryptocurrency, the firm allows them to store their asset in a secure cold storage.

Jennings revealed that Kingdom Trust was able to get discount on the deal with Lloyd’s because it uses cold storage. Kingdom Trust claims that its cold storage facility has a dual controlled environment and the keypad entry. However it is designed in a way that doesn’t allow just one person to have access into the safe.

The website claims that it is qualified to handle multiple custodian plans for customers. At present it is servicing about 100,000 customers. Kingdom Trust has been able to build strong affiliations with major cryptocurrency providers.

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Ifeanyi

Ifeanyi Egede is an experienced and versatile blockchain/crypto writer and researcher on with tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids. Learn more about how Ifeanyi Egede could be of help to your business.

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