page contents NYDIG Raises $100 Million, Details Bitcoin-Powered Insurance Strategy – The News Headline

NYDIG Raises $100 Million, Details Bitcoin-Powered Insurance Strategy

In an April eight, 2021 free up, NYDIG, the bitcoin-focused funding subsidiary of Stone Ridge, introduced a $100 million elevate of enlargement capital.

Some of the record of companions for this fundraise are Starr, Liberty Mutual Insurance coverage, and different belongings and casualty insurers, becoming a member of NYDIG’s current partnership with New York’s MassMutual. This marks notable funding in a bitcoin-focused workforce via historically conservative firms.

NYDIG additionally introduced that Mike Sapnar, the CEO of main reinsurer TransRE, would transform its world head of insurance coverage answers and oversee all NYDIG insurance coverage actions. Sapnar might be joined via NYDIG U.S. Head of Insurance coverage Answers Matt Carey, who might be “thinking about bitcoin-powered answers for U.S.-based lifestyles insurance coverage and annuity suppliers,” in keeping with the announcement.

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