21M Insurance has partnered with Cobo to introduce institutional-level MPC custody to ensure the safety and compliance of its Bitcoin life insurance.

The world's first encryption-native insurance institution 21M Insurance (hereinafter referred to as 21M) announced a strategic partnership with Cobo, a leading international provider of digital asset custody and wallet infrastructure. They will adopt Cobo's MPC wallet technology to provide institutional-level security for their Bitcoin-denominated life insurance and smart underwriting and risk control engine.

With the approval of the Bitcoin ETF in January 2024 and the record for the most successful product issuance in history, the demand from institutions for Bitcoin asset allocation has surged. However, the traditional insurance industry has always been unable to touch this field due to regulatory capital requirements, balance sheet restrictions, and technological system limitations. Against this backdrop, 21M, with asset security as its core principle, has partnered with Cobo to be the first to provide blockchain-native compliance infrastructure and operational paradigms for the trillion-dollar insurance market.

The cooperation between the two parties will initially cover the asset custody of a 21M Bitcoin-denominated whole life insurance product. Depending on business development, it will gradually extend to scenarios such as policy tokenization asset management and fund custody for lending agreements. Cobo's institutional-level MPC wallet custody technology will provide 21M with multi-layered security protection, flexible permission management, and traceable asset records, effectively avoiding operational risks caused by single points of failure, ensuring that policyholders' Bitcoin assets receive the highest level of protection while meeting compliance and audit requirements of major jurisdictions worldwide. This will provide policyholders with a safe, transparent, and efficient operating environment.

21M CBO Richard said:

“As one of the world's first encryption-native insurance institutions, collaborating with top custody service providers like Cobo, which has a zero-accident record, is the cornerstone of ensuring the asset safety of policyholders. Traditional insurance companies are unable to enter the Bitcoin insurance field due to technological and regulatory constraints, creating a unique structural moat for 21M. Through deep cooperation with Cobo, we will build a secure, transparent, and efficient blockchain-native insurance ecosystem that allows insurance to truly grow alongside Bitcoin adoption. This is not only product innovation but also a paradigm shift in the infrastructure of the insurance industry.”

Cobo SVP Alex Zuo stated:

“In the innovative field of digital asset insurance, institutions need not only technology but also trustworthy, secure, and forward-looking infrastructure support. Cobo will provide a solid foundation for the robust growth and excellent operation of the 21M Bitcoin life insurance, helping to create the encryption-native era of the insurance industry.”

With the support of 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 field. Cobo will also continue to commit to providing secure, flexible, and high-performance digital asset custody and wallet solutions for global institutional clients, jointly promoting the innovation and development of the insurance and digital asset industry infrastructure.

About 21M Insurance

21M Insurance is one of the world's first crypto-native insurance institutions, supported by investments from top family offices in Asia, dedicated to providing innovative insurance products priced in cryptocurrency for global users. Relying on its independently developed smart underwriting and risk control engine, the company builds a new generation of insurance infrastructure for digital asset holders, covering life insurance, asset protection, and wealth management, tapping into the trillion-dollar digital asset insurance blue ocean market.

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.

Cobo was established in 2017 and is headquartered in Singapore. It is a blockchain pioneer trusted by over 500 leading digital asset companies worldwide, with assets under custody reaching billions of dollars. Cobo offers the industry's only platform that integrates four different 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, and has received ISO 27001, SOC2 (Type 1 and Type 2) certifications, as well as licenses from multiple jurisdictions. With its industry-leading innovations, Cobo has been recognized by authoritative institutions such as Hedgeweek and Global Custodian.