Leading global crypto-native insurance institution 21M Insurance (hereinafter referred to as 21M) announced a strategic partnership with digital asset custody and wallet infrastructure provider Cobo. 21M will utilize Cobo's MPC wallet technology to provide institutional-grade security for its Bitcoin-denominated whole life insurance products and its intelligent underwriting and risk control engine.
Following the approval of Bitcoin ETFs in January 2024, which set a record for the most successful product launch in history, institutional demand for Bitcoin asset allocation has surged. However, the traditional insurance industry, due to regulatory capital requirements, balance sheet constraints, and technological system limitations, has been unable to tap into this sector. Against this backdrop, 21M, with asset security as its core principle, has partnered with Cobo to pioneer the provision of blockchain-native compliant infrastructure and operational paradigms for the multi-trillion dollar insurance market.
This collaboration will initially cover the asset custody for 21M's Bitcoin-denominated whole life insurance products. Subsequently, depending on business development, it will gradually extend to scenarios such as the management of tokenized policy assets and the custody of funds for lending protocols. Cobo's institutional-grade MPC wallet custody technology will provide 21M with multi-layered security protection, flexible permission management, and traceable asset records. It will effectively mitigate operational risks associated with single points of failure, ensuring that policyholders' Bitcoin assets receive the highest level of protection while meeting the compliance and audit requirements of major global jurisdictions. This provides policyholders with a secure, transparent, and efficient operational environment.
Richard, CBO of 21M, stated:
"As one of the world's first crypto-native insurance institutions, partnering with a top-tier custodian like Cobo, which maintains a zero-incident record, is the cornerstone of ensuring the security of policyholders' assets. Traditional insurance companies' inability to enter the Bitcoin insurance space due to technological and regulatory limitations creates a unique structural moat for 21M. Through our in-depth collaboration with Cobo, we will build a secure, transparent, and efficient blockchain-native insurance ecosystem, allowing insurance to grow genuinely alongside Bitcoin adoption. This is not just product innovation; it's a paradigm shift in the infrastructure of the insurance industry."
Alex Zuo, SVP of Cobo, stated:
"In the innovative field of digital asset insurance, institutions need not only technology but also trustworthy, secure, and forward-looking infrastructure guarantees. Cobo will provide a solid foundation for the robust growth and operational excellence of 21M's Bitcoin life insurance, helping it pioneer the crypto-native era for the insurance industry."
Supported by Cobo's custody and wallet services, 21M will be able to more robustly expand its global insurance business scale, further consolidating its first-mover advantage in the digital asset insurance space. Cobo remains committed to providing global institutional clients with secure, flexible, and high-performance digital asset custody and wallet solutions, jointly driving innovation and development in the infrastructure of both the insurance and digital asset industries.
About 21M Insurance
21M Insurance is a leading global crypto-native insurance institution, backed by investment from top Asian family offices. It is dedicated to providing global users with innovative insurance products denominated in cryptocurrency. Leveraging its self-developed intelligent underwriting and risk control engine, the company is building a new generation of insurance infrastructure for digital asset holders, covering whole life insurance, asset protection, and wealth management, thereby exploring the trillion-dollar blue ocean market of digital asset insurance.
About Cobo
Cobo is a leader in digital asset custody and wallet technology, providing a one-stop wallet technology platform that enables institutions and developers to easily build, automate, and securely scale their digital asset businesses.
Founded in 2017 and headquartered in Singapore, Cobo is a blockchain pioneer trusted by over 500 leading digital asset enterprises globally, with billions of dollars in assets under custody. Cobo offers the industry's only platform integrating four different types of digital asset wallet technologies — Custodial Wallet, MPC Wallet, Smart Contract Wallet, and Exchange Wallet. Cobo is committed to the highest security standards and regulatory compliance, maintaining a zero-incident record to date. It has obtained ISO 27001, SOC2 (Type I and II) certifications, and licenses in multiple jurisdictions. Recognized for its industry-leading innovation, Cobo has received accolades from authoritative institutions such as Hedgeweek and Global Custodian.
