Capsule Cover | Crypto Insurance

Protecting the businesses shaping the crypto industry

Digital asset businesses face risks that most insurers are still catching up with. Smart contract failures, custody breaches, exchange counterparty exposure, and evolving regulatory requirements mean your risk profile looks nothing like a traditional financial services firm. As your business launches new products or enters new markets, your cover needs to keep pace. Capsule's specialist advice ensures your programme reflects your actual controls, obligations and growth ambitions at every stage.

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Regulations

FSMA Cryptoasset Regime Timeline
As the UK moves toward a more formal regulatory regime for crypto businesses, expectations around governance, controls and operational resilience are rising. Getting the right insurance in place now can help speed up the process later - giving investors, boards, customers and regulators more confidence that the business is set up properly.

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October 2023

Treasury published proposals for regulatory regime for cryptoassets

February 2026

Financial Services and Markets Act (FSMA) 2026 regulations created

September 2026

FCA FSMA Regime application window opens

February 2027

FCA FSMA Regime application window closes

October 2027

FSMA Regime goes live

"The UK is seeking to become a jurisdiction where reasonably sized and well-run crypto businesses thrive. However, the FCA expects firms to have proper resources in place to comply with their regulatory obligations, rather than be focused solely on product development."

James Burnie, Partner at Gunner Cooke

Who we support

We work with digital-asset businesses across the ecosystem, from early-stage projects through to established platforms. Wherever you sit in the crypto landscape, our team understands your risk profile and how to structure cover around it.

Exchanges & brokerages

Businesses that enable buying, selling and trading digital assets, providing liquidity and market access.

Wallet and custody providers

Companies that securely store and manage digital assets, from mobile wallets to institutional custody solutions.

Payments & ramps

Using technology to automate and modernise insurance.

Tokenisation & RWAs

Platforms that turn real‑world assets into blockchain‑based tokens, enabling fractional ownership and liquidity.

DeFi

Teams building decentralised financial systems like lending, exchanges and yield protocols using smart contracts.

Security & compliance

Providers of security, compliance and identity solutions for digital asset businesses.

Blockchain infrastructure

Providers of blockchain infrastructure, data and analytics tools.

Our approach to crypto

We present crypto businesses to insurers in a more mature, established way, closer to how strong FinTechs are understood in the market. Working with specialist Lloyd's markets, we build cover that responds properly, without exclusions that quietly undermine the policy. That spans Professional Indemnity and Tech E&O, Cyber, Directors and Officers, Crime, and Slashing coverage for validator and staking operations.

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Meet our crypto experts

Ben Coker

Crypto Broker

Ben started his career broking risks for traditional financial institutions, before gaining experience placing crypto risks in the Middle East. He later moved into FinTech and now helps crypto and digital-asset businesses secure insurance that reflects how they actually operate.

Alex Hurley

Crypto - New Business

Alex works with ambitious crypto and digital-asset businesses, helping founders and leadership teams approach insurance in a practical, commercial way that supports growth and keeps pace with an evolving market.

More than just insurance...

Connecting crypto teams to the resources, partners and specialist support that matter.

Events

Get first access to Capsule's Finance focused events and networking

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Partners

A network of partners, who understand the scale-up journey

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Content

Guides, new resources and blogs on the stuff that matters when you're growing fast

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What types of cover do you typically recommend for a crypto business, and what exclusions should we be aware of?

The core covers are usually Professional Indemnity, Cyber, Directors & Officers, Crime and sometimes Key Person. The bigger issue is exclusions - many policies can restrict cover for digital assets, unauthorised transfer, wallet loss or smart contract-related claims, so wording matters just as much as the cover itself.

Can DAOs and foundations be insured?

Yes, in some cases. Foundations are usually easier to place, while DAOs depend on how clearly the structure, governance and decision-making can be understood by insurers.

How do insurers evaluate risks such as hacks, smart contract failures, or custody‑related issues?

They look closely at governance, security controls, audits, incident response and where responsibility sits for assets or transactions. The clearer and more mature the controls, the better the outcome tends to be.

Are you able to source insurers who understand the crypto space and can offer competitive terms?

Yes - we work with specialist underwriters, including Lloyd’s markets, who understand digital-asset risk better than the standard market. That helps us secure stronger wording and more competitive terms.

How do you support us during a claim, especially when it involves complex or emerging risks?

Our in-house claims advocacy team stays involved throughout the process - presenting the facts clearly and making sure insurers properly understand your business and the loss. We shape the claim, anticipate insurer questions and challenge positions where appropriate, with the goal of securing the best possible outcome while taking the pressure off you.

Crypto Insurance