Category: Insurance

BitGo’s $700 million crypto custody insurance program: what it means and why it matters

Digital asset custodian BitGo announced Wednesday that it has secured a total of $700 million in insurance coverage for the assets in custody in cold storage. This is an important milestone in the continued mainstream adoption of bitcoin and other digital assets.   That top-line figure represents an addition of $600 million in capacity to the […]

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Insurance Giant AXA Allows Swiss Clients to Pay for Services With Bitcoin

The French multinational insurance firm AXA is now allowing clients in Switzerland to pay for services in bitcoin. The newly added support is part of the company’s “digital future” and stems from customer demand for crypto payments. AXA Supports Bitcoin Payments In Switzerland AXA has announced it is the first all-lines insurer in the country […]

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Bitcoin investment firm NYDIG raises another $100 million

NYDIG, the New York-based crypto investment firm, has secured another $100 million just one month after announcing a $200 million fundraise. The additional cash comes from strategic partners, including insurance firms Starr Insurance, Liberty Mutual Insurance and other property and casualty-focused insurers. They join life insurance and annuity-focused firms New York Life and MassMutual as […]

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Danish Red Cross launches $3 million blockchain-based volcano disaster relief bond

The Danish Red Cross has launched a blockchain-based “catastrophe bond” for volcano-related disasters, according to an announcement from the insurance group Howden.  The bond, worth $3 million, aims to facilitate disaster relief to affected areas if 10 specified volcanoes erupt. The chosen volcanoes are in Cameroon, Chile, Columbia, Ecuador, Guatemala, Indonesia and Mexico.  Replexus, a […]

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Polkadot-based decentralized insurance project Tidal Finance raises $1.8 million in a token sale

Tidal Finance, the yet-to-launch Polkadot-based decentralized insurance protocol, has raised $1.8 million in a private token sale round. The round was led by Hypersphere Ventures, the venture firm co-founded by Polkadot co-founder Robert Habermeier, with participation from Spartan Capital, Kenetic Capital, and QCP Capital. With fresh capital at hand, Tidal looks to launch its protocol […]

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NYDIG adds former Square Capital lead Jackie Reses to board of directors

NYDIG adds former Square Capital lead Jackie Reses to board of directors

NYDIG has appointed former Square Capital lead executive Jacqueline D. Reses to its board of directors, the company announced Tuesday.  According to the announcement, Reses’ new role will focus on the expansion of NYDIG’s Platform Solutions business, which will enable insurance companies, banks, and other fintech businesses to offer bitcoin-related services.  “I [also] know that […]

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Crypto China: Construction Bank in China Launches First Insurance Policy Paid in Digital Currency

China Construction Bank, one of the largest banks in China has started a new use case for the country’s much talked about digital yuan by issuing the first insurance policy completely paid in the national digital currency. The digital yuan settled insurance policy was launched in association with ZhongAn Online P&C Insurance. Local media reports […]

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