AXA XL Develops Insurance for Hoyos to Launch World’s Most Secure Digital “Hot” Wallet

AXA XL, the Property & Casualty and Specialty Risk division of AXA, has developed an innovative insurance solution for Hoyos Integrity Corporation (Hoyos) to launch the world’s most secure digital “Hot” wallet.

In
doing so, AXA XL has designed a bespoke contractual liability insurance
coverage specifically tailored for, and in collaboration with Hoyos, a
company that specializes in unique biometrically secured products and
applications, including secure digital asset services.

Hoyos
provides its users with the “Hoyos Promise of Security” that protects
against specific breaches of the Hoyos digital “Hot” wallet’s security
system. In the event of a non-authorized breach of the digital wallet’s
security system, Hoyos commits to reimburse a Hoyos Wallet user for up
to a maximum of USD $1M. AXA XL’s customized contractual liability
insurance coverage insures Hoyos for defined amounts it must pay out in
the event of a breach of the Hoyos Promise of Security.

Jason
Harris, Chief Executive, Global Property & Casualty Insurance,
said, “As an insurer, our mission is to work with our clients to
innovate and support them in the development of their products or
services which move the world forward. The insurance, especially
designed for this company, allows Hoyos to make its wallet a much more
compelling and marketable product.”

“Hoyos now has the
financial protection it needs to, in turn, offer people and institutions
the added reassurance they need to go ahead and start using and storing
crypto and digital currency tokens,” said Mukadder Erdoenmez, head of
AXA XL’s NEAT (New Economies, Autonomy and Technology) business unit, a
team of underwriters dedicated to designing new coverages to address
changing client needs and serve emerging sectors. “We look forward to
continuing our collaboration with Hoyos as we work to tailor customized
insurance protection as Hoyos expands its wholesale partners and
commercial agreements,” added Mr. Erdoenmez.

Hector
Hoyos, Founder, CEO, and Chief Technology Officer of Hoyos Integrity
Corporation said, “With AXA XL’s insurance partnership, Hoyos will bring
an unmatched level of security to the existing global digital assets
and mobile devices community. With the development of the Hoyos wallet,
and the fact Hoyos is insured by one of the leading insurance brands in
the world, Hoyos is poised to open the cryptocurrency market up to
potentially hundreds of millions of new and existing digital asset
users. Moving forward in our collaboration with AXA XL, we are already
working towards ways we can extend our “Hoyos Promise of Security” to
RSN token technology and the rest of our product suite.”

Mr.
Hoyos continued, “Our online, biometrically secured wallet is unique
and a game changer for the cryptocurrency and digital asset industry. It
comes at a time when both institutional and consumer assets are being
ravaged by cyberattacks and when there is an overwhelming lack of
critical adherence to the Know Your Client (KYC) and Anti Money
Laundering (AML) regulations as set out in the US Patriot Act. Financial
regulators have been critical, and most recently have taken swift
action to thwart would-be abusers, who put user security and, at a
higher-level, national security at risk. I believe that our Hoyos
Solution will become the new and required standard of security for
digital assets and allow common users, governments, and institutional
asset markets alike, to embrace digital assets.”

Available
for iOS and Android devices, the Hoyos wallet is compatible with common
forms of cryptocurrency such as Bitcoin, Litecoin, Ethereum, as well as
any ERC20 and Hoyos’ own “RISEN” (RSN) tokens. The wallet can also hold
digitized fiat currency, enabling usage for almost any online and
retail purchases.

The Hoyos digital wallets’ security has been tested both at an international hackathon contest
and by a contractor of the United States National Security Agency (NSA)
without any recorded breaches to the system even when all confidential
source code and proprietary architecture documentation has been
provided.

Follow AXA XL on Twitter and on LinkedIn.

Follow Hoyos on Twitter and on Linkedin.

ABOUT HOYOS INTEGRITY CORPORATION
Hoyos Integrity Corporation is an American company specializing in
secure communications services which guarantee the privacy of voice and
data, as well as in secure digital assets services. The company’s core
focus is built around the national security needs of the United States
and its allies, with its expertise ranging from biometrics to
cybersecurity to secure embedded operating systems running in their own
uniquely designed secure smartphone.

ABOUT AXA XL
AXA XL, the property & casualty and specialty risk division of AXA,
provides insurance and risk management products and services for
mid-sized companies through to large multinationals, and reinsurance
solutions to insurance companies globally. We partner with those who
move the world forward.

To learn more, visit www.axaxl.com

ABOUT AXA XL INSURANCE
AXA XL Insurance offers property, casualty, professional, financial
lines and specialty insurance solutions to mid-sized companies through
to large multinationals globally. We partner with those who move the
world forward. To learn more, visit www.axaxl.com

All media inquiries related to the insurance coverage need to be addressed to AXA XL.

AXA XL MEDIA RELATIONS:
Christine Weirsky
[email protected]
610-968-9395

HOYOS MEDIA RELATIONS:
Lewis Goldberg
[email protected]
212-896-1216

Annie Graf
[email protected]
786-390-2644

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