Baar, Zug, Switzerland — Single Broker—a Swiss-based regulated provider of crypto brokerage services and a trading platform—is happy to announce its crypto storage option available. The platform allows crypto traders and holders to securely store their digital assets within the Single Broker infrastructure, with insurance coverage of up to $30 million.
Single Broker has equipped its platform with a reliable storage solution that allows retail and institutional crypto traders to protect their digital assets from stealing in case of a hacker attack. The initiative allows the company to combat the current crypto cyber-crisis, which has significantly elevated over the previous year. According to Chainanalysis data, in 2022 the overall value of stolen crypto assets reached $3.8 billion—far greater than in previous years.
Being a regulated Swiss-based company, Single Broker ensures compliance with industry regulations. The platform’s security framework has been subject to Swiss financial market regulation, ensuring that a closed wallet system and an infrastructure of segregated custodial wallets and exchange sub-accounts are secure. What is more, they apply transparent user agreements, in which a trader is the only owner of assets. It means that the client isn’t considered to be an unsecured creditor; this prevents the company from not returning the assets even in the case of bankruptcy.
Besides this, the Single Broker offers insurance coverage of up to $30 million. This ensures that platform users will receive their funds in the case of company bankruptcy or asset theft. Such initiatives contribute to the company’s mission—to cover all crypto traders’ needs via a single solution with a high level of security. To set up a secure crypto ecosystem where user rights and assets are protected, the company became a member of a reputable Swiss SRO “VFQ”, which is supervised by FINMA, Swiss financial market authority.
About Single Broker
Single Broker is a Swiss-based regulated provider of crypto brokerage services and a trading platform that aims to create a reliable crypto ecosystem. The solution allows traders of all scopes to store, trade, and exchange their digital assets through a single reliable interface.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Lane journalist was involved in the writing and production of this article.