![Cryptographic insurance debuts in Hong Kong Cryptographic insurance debuts in Hong Kong](https://www.tomshw.it/images/images/2021/10/foto-generiche-190283.768x432.jpg)
The absence of insurance coverage has been a major deterrent for wealth managers curious about cryptocurrency in Asia. Despite being a mature market now, the cryptocurrency industry is still rife with hacks and exit scams.
The cryptocurrency insurance market has grown rapidly in the US, benefiting from regulatory clarity. , wider adoption of digital assets and high cryptocurrency prices. In April, Palo Alto-based BitGo expanded insurance capacity for its institutional clients by a whopping $ 600 million amid skyrocketing demand.