21M Insurance, among the world’s first crypto-native insurance institutions, today announced a strategic partnership with Cobo, a leading provider of digital-asset custody and infrastructure. The collaboration delivers institutional-grade safeguards for 21M’s Bitcoin-denominated whole-life policies and operating infrastructure — including its AI-powered underwriting and risk management engine — marking a significant step forward for blockchain-native insurance infrastructure.
Following the approval of spot Bitcoin ETFs in January 2024 — one of the most successful ETF launches on record—institutional demand for BTC exposure has accelerated. Yet traditional insurers, constrained by regulatory capital frameworks, balance-sheet limitations, and legacy technology, have been unable to serve this segment. Against this backdrop, 21M and Cobo are partnering to build a compliant, blockchain-native operating model with asset safety as the first principle for a trillion-dollar insurance market opportunity.
Under the agreement, Cobo will initially provide custody for the assets backing 21M’s BTC-denominated whole-life policies. As the business scales, the scope will expand to management of tokenized policy assets and to the custody and flow-of-funds controls supporting lending protocols. Cobo’s institutional-grade custody platform will furnish multi-layer security controls, flexible permissioning, and transparent asset tracking—delivering the highest level of protection for policyholders’ Bitcoin while aligning with stringent requirements across major jurisdictions. These capabilities mitigate single-point-of-failure risks in insurance asset management and create a highly secure, transparent, and efficient policyholder environment.
Mr. 21, chief executive officer of 21M Insurance, said:
“As one of the world’s first crypto-native insurance institutions, partnering with a top-tier custodian like Cobo — with a zero-incident track record — is the cornerstone of safeguarding policyholder assets. Technical and regulatory constraints have kept traditional insurers out of Bitcoin insurance, creating a unique structural moat for 21M. Through deep collaboration with Cobo, we are building a secure, transparent, and efficient blockchain-native insurance ecosystem — one that truly scales with Bitcoin adoption. This is not just product innovation; it is a paradigm shift in the industry’s core infrastructure.”
Discus Fish, Cobo’s co-founder and CEO said:
“In digital-asset insurance, institutions need more than technology — they need trust, security, and forward-looking infrastructure. Our partnership with 21M reflects Cobo’s ‘Beyond Custody’ vision. We aim to provide the durable foundation for BTC life insurance to scale with resilience and operational excellence, ushering in a blockchain-native era for the insurance industry.”
Backed by Cobo’s custody services, 21M expects to expand its global insurance footprint more confidently, reinforcing its first-mover advantage in digital-asset insurance. Cobo will continue to deliver secure, compliant, high-performance custody solutions for institutions worldwide, advancing innovation across insurance and digital-asset infrastructure.
About 21M Insurance
21M Insurance is committed to becoming one of the world’s first blockchain-native insurance institutions, backed by prominent family offices and high-net-worth individuals. The company plans to launch crypto-denominated insurance products. Leveraging its AI-powered underwriting and risk management engine, 21M is building next-generation insurance infrastructure spanning whole-life coverage, asset protection, and wealth management to unlock a trillion-dollar digital-asset insurance market. 21M Insurance is a wholly owned subsidiary of Pacific Digital Alliance. For more information, visit 21minsurance.com.
About Cobo
Cobo is a trusted leader in digital-asset custody and wallet infrastructure, providing an all-in-one platform for organizations and developers to build, automate, and securely scale their digital-asset businesses. Founded in 2017 and headquartered in Singapore, Cobo is trusted by more than 500 leading digital-asset businesses globally, safeguarding billions of dollars in assets. Today, Cobo offers the industry’s only unified wallet platform that integrates four wallet technologies — custodial wallets, MPC wallets, smart-contract wallets, and exchange wallets. Committed to the highest security standards and regulatory compliance, Cobo maintains a zero-incident track record and holds ISO 27001 and SOC 2 (Type I and Type II) certifications, as well as licenses in multiple jurisdictions. Recognized for its industry-leading innovations, Cobo has received accolades fromHedgeweek and Global Custodian. For more information, www.cobo.com.
Media Contact
21M Insurance
investor.relations@pacificdigitalalliance.com
Cobo Media Relations
hello@cobo.com