DSRV Signs $20 Million Digital Asset Insurance Contract with Samsung Fire & Marine Insurance

Blockchain infrastructure company DSRV has signed a digital asset-specific insurance contract with Samsung Fire & Marine Insurance, providing coverage of up to $20 million (approximately 28.8 billion KRW). This insurance is designed to protect against unexpected incidents such as damage to digital asset storage media held by DSRV as a Virtual Asset Service Provider (VASP) due to natural disasters, theft from external intrusions, or loss of private keys. The coverage limit has been significantly expanded compared to existing mandatory insurance, making it one of the highest levels in the domestic digital asset industry. DSRV cited the growing institutional demand driven by regulatory changes as a key factor. As corporate participation in the digital asset market is gradually allowed and discussions on the institutionalization of stablecoins gain momentum, demand for custodial services centered around institutions is expected to increase. Financial authorities recommend that corporations utilize third-party custody when acquiring digital assets. DSRV operates a custody wallet technology based on Multi-Party Computation (MPC) and has established a compensation system to protect customer assets through this insurance contract. DSRV is one of the largest blockchain validator operators in Asia and is continuously investing to enhance security and internal controls, with plans to complete its VASP registration in 2024.

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