Global leading crypto-native insurance institution 21M Insurance (hereinafter referred to as 21M) announced a strategic partnership with digital asset custody and wallet infrastructure provider Cobo, adopting Cobo's MPC wallet technology to provide institutional-grade security for its Bitcoin-denominated whole life insurance and smart underwriting and risk control engine.
With the approval of the Bitcoin ETF in January 2024, which set a record for the most successful product issuance in history, the demand for institutional Bitcoin asset allocation has surged. However, the traditional insurance industry has been unable to penetrate this field due to regulatory capital requirements, balance sheet constraints, and technological system limitations. Against this backdrop, 21M, with asset security as its core principle, collaborates with Cobo to be the first to provide blockchain-native compliant infrastructure and operational paradigms for the trillion-dollar insurance market.
This collaboration will initially cover the asset custody of 21M's Bitcoin-denominated whole life insurance products, and as the business develops, it will gradually extend to scenarios such as policy tokenization asset management and custody of lending agreements. Cobo's institutional-grade MPC wallet custody technology will provide 21M with multi-layer security protection, flexible permission management, and traceable asset records, effectively avoiding operational risks from single points of failure, ensuring that policyholders' Bitcoin assets receive the highest level of protection while meeting compliance and audit requirements in major global jurisdictions. This will provide policyholders with a safe, transparent, and efficient operational environment.
21M CBO Richard stated:
"As one of the world's first crypto-native insurance institutions, partnering with a top custodian like Cobo, which has a zero-incident record, is the cornerstone of ensuring the safety of policyholders' assets. 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 collaboration with Cobo, we will build a secure, transparent, and efficient blockchain-native insurance ecosystem that allows insurance to truly grow with 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 robust growth and excellent operations for 21M's Bitcoin life insurance, helping to usher in the crypto-native era of the insurance industry."
With the support of Cobo's custody and wallet services, 21M will be able to expand its global insurance business more robustly, further consolidating its first-mover advantage in the digital asset insurance field. Cobo will also continue to be committed to providing global institutional clients with secure, flexible, and high-performance digital asset custody and wallet solutions, jointly promoting innovation and development in the infrastructure of the insurance and digital asset industries.
About 21M Insurance
21M Insurance is a global leading crypto-native insurance institution, supported by investments from top family offices in Asia, dedicated to providing innovative insurance products priced in cryptocurrency for users worldwide. Relying on its self-developed smart underwriting and risk control engine, the company builds a new generation of insurance infrastructure covering whole life insurance, asset protection, and wealth management for digital asset holders, exploring 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.
Founded in 2017 and headquartered in Singapore, Cobo is a trusted blockchain pioneer for over 500 leading digital asset companies globally, with custody assets reaching billions of dollars. Cobo offers the industry's only platform that integrates four different digital asset wallet technologies—custodial wallets, MPC wallets, smart contract wallets, and exchange wallets. Cobo is committed to the highest security standards and regulatory compliance, maintaining a zero-incident record to date, and has obtained ISO 27001, SOC2 (Type 1 and Type 2) certifications, as well as licenses from multiple jurisdictions. With its industry-leading innovations, Cobo has received recognition from authoritative institutions such as Hedgeweek and Global Custodian.
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