November 24, 2020

News: Symatri launches Kala Pro Wallet Protected by Coincover

Kala Wallet, which is used by over 30,000 people, has today launched its Pro Wallet, which comes with enhanced security features and three levels of theft insurance cover: Bronze, which covers up to $1,000; Silver, up to $10,000; and Gold, up to $100,000.

The new Kala Pro Wallet is protected through a partnership with Coincover, creators of the safety standard for crypto which provides Theft Cover underwritten by Lloyd’s of London.

While cryptocurrency continues to grow in popularity, a constant concern for anyone that holds – or is considering holding – crypto has the potential to lose access to their assets, whether through an accidental loss of their keys, or a malicious attack.

With Coincover in place, the Kala Pro Wallet provides peace of mind by offering financial protection should a user’s cryptocurrency be inaccessible or stolen. It also notarizes the insurance policy on the Kala blockchain for further proof of coverage.

Darren Olayan, CEO of Symatri, said, “Our community of 30,000 Kala Wallet users already benefit from Kala blockchain’s inherent value and asset verification capability within the Symatri ecosystem, and with the launch of our Pro Wallet they can access enhanced protection against theft and loss.

“We aim to provide the most versatile, secure and usable cryptocurrency and platforms, and our partnership with Coincover supports this ambition.”

David Janczewski, co-founder and CEO of Coincover, added, “As more people benefit from their crypto assets being protected, the popularity of cryptocurrency will continue to grow, and we’re delighted to help companies like Symatri make cryptocurrency an important and useful part of people’s daily lives.”

Kala Pro Wallet offers coverage at three levels, paid annually: Bronze, up to $1,000 coverage for $45;Silver up to $10,000 for $195; and Gold up to $100,000, for $1,020.

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