The SIPC (Securities Investor Protection Corporation) is a nonprofit organization created by the U.S. government to protect investors in the event that a brokerage firm fails or is unable to return customer assets.
It functions like an insurance fund for investors, providing an additional layer of security and confidence in the financial markets.
How does SIPC work?
When a brokerage firm registered with SIPC faces financial trouble or declares bankruptcy, SIPC steps in to protect customer assets.
Wallbit offers expanded SIPC coverage, known as Excess SIPC, under which each client is insured for:
Up to USD 75 million in securities
Up to USD 75 million in cash
This means that investors’ funds can be recovered in the event of insolvency or default by the brokerage firm.
If you have any questions or need further assistance, feel free to contact our support team.