Crypto Custodian Aegis Trust Offers Insurance Policy for NFTs

Crypto custodian Aegis Trust is offering an insurance policy for NFT, the company said Tuesday.

The policy, provided by insurance marketplace Lloyd’s of London, will allow Aegis to insure up to $25 million for tokenized assets held by institutional investors, hedge funds and exchanges.

Serra Wei, CEO of Aegis Trust, said that lack of regulation and protection has led customers to lose their assets and prompted the company to roll out a custodial product targeting NFTs. Its Aegis Digital Vault platform already offers regulatory-compliant solutions for institutional storage, with its new NFT insurance policy adding a heightened layer of security.