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    3. Korea Digital Asset Signs Virtual Asset Insurance Contract Worth 57.3 Billion Won with KB Insurance

    Korea Digital Asset Signs Virtual Asset Insurance Contract Worth 57.3 Billion Won with KB Insurance

    By: rootdata|2026/08/03 04:08:02
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    Korea Digital Asset has signed a virtual asset-specific insurance contract worth 57.3 billion won with KB Insurance. This contract serves as a safeguard against losses due to damage, loss, or theft of virtual assets entrusted by customers, with the coverage limit being the highest in the domestic custody industry. Korea Digital Asset, established in 2020 by KB Kookmin Bank and Hashed, provides services for the custody and management of virtual assets for institutional and corporate clients. According to the current Virtual Asset User Protection Act, custody businesses must have certain user protection measures in place through insurance and reserves, and this contract significantly exceeds the minimum compensation limit of 500 million won required by law. CEO Jo Jin-seok stated that the level of protection for customer assets has been aligned with the standards of traditional financial institutions. As the virtual asset industry expands from individual investors to corporate and institutional participation, the stability of custody and the responsibility compensation system are expected to become key competitive factors.

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    This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.

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