Nov 2, 2020 at 13:36 UTCUpdated Nov 2, 2020 at 15:00 UTC.Investment platform eToro is now providing a free insurance scheme that will pay its customers holding traditional assets up to £1 million if the firm should ever become insolvent.
In an emailed announcement on Monday, eToro said the new policy is underwritten by Lloyd's of London and would apply in "The unlikely event that eToro were to enter a state of insolvency."
If it goes bust, the firm said the policy would "Cover clients for losses above the relevant financial compensation schemes to a value of £1 million, and in accordance with the purchased policy."
In the U.K., the Financial Services Compensation Scheme would cover up to £85,000 held in investments.
The policy also covers both cash held on eToro's platform and open accounts but cryptocurrencies are not included because they are "Unregulated assets," the firm stated.
eToro said the insurance would bring its millions of global users "Additional peace of mind."
eToro Adds Insolvency Insurance Policy
Veröffentlicht auf Nov 2, 2020
by Coindesk | Veröffentlicht auf Coinage
Coinage
Neueste Nachrichten
Alle ansehen
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.