Specialist underwriter, Qubit, has expanded into the Australian market by providing insurance coverage for Monochrome, the specialist investment management firm offering regulated access to crypto-assets.
It’s important to note, that Monochrome is known for introducing Australia’s first approved Bitcoin ETF, which holds bitcoin directly.
Moreover, in June, Monochrome teamed with State Street to offer the Monochrome Bitcoin ETF to the Australian market under the stock ticker IBTC.
This milestone marked a pivotal moment for Monochrome and the Australian crypto industry, as it was able to provide customers with easy, safe and secure access to digital currency investments.
Serving as Monochrome’s insurance partner, Qubit will provide S&P-rated coverage, which will ultimately give Monochrome and its customers added assurance and trust.
Helen Ye, CEO of Qubit, commented: “We are thrilled to be on the journey with Monochrome, a true innovator in the Australian digital asset space. Our offer of high-quality insurance will support Monochrome in building trust and
confidence with their clients.”
Jeff Yew, CEO of Monochrome, said: “We value Qubit’s expertise in digital asset risk management and their meticulous
approach in offering tailored and customized coverage options that meet our specific needs. Qubit is the ideal partner for IBTC in this initiative.”
