Soter Insure Secures Series A Funding to Revolutionize Digital Asset Insurance Solutions

Soter Insure Secures Series A Funding to Revolutionize Digital Asset Insurance Solutions

Soter Insure, a leading provider of specialized insurance solutions for the digital asset economy, has successfully completed its Series A funding round, securing an undisclosed amount. This investment marks a significant step in enhancing insurance offerings tailored for the burgeoning digital asset market.

Funding Details and Investor Participation

The Series A funding round was spearheaded by Galaxy Digital, with notable participation from several prominent investors including Brevan Howard Digital, Karatage, Token Bay, and Pharsalus. This influx of capital is expected to bolster Soter Insure’s capacity to deliver innovative insurance products.

About Soter Insure

Headquartered in Abu Dhabi and operating from Bermuda, Soter Insure also maintains offices in major financial hubs, including London, New York, and Dubai. The company was incubated by Further Ventures and WebN Group, focusing on insurance solutions tailored specifically for financial institutions in the digital asset sector.

Insurance Products Offered

Soter Insure provides a range of insurance products that cover various risks, including:

  • Asset loss
  • Directors and Officers (D&O) liability
  • Smart contract failures

Policies are available in both fiat and native digital assets, addressing the unique challenges faced by institutions in the rapidly evolving Web3 landscape.

Addressing the Insurance Gap in Web3

The rapid growth of the Web3 sector has highlighted a significant gap in adequate insurance solutions, which has hindered broader institutional adoption. Soter Insure is committed to bridging this gap by developing comprehensive insurance products tailored to the risks associated with decentralized technologies. This initiative aims to instill greater confidence among both institutional and retail participants in the digital asset ecosystem.

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Future Plans and Expansion

The new funding will facilitate Soter Insure’s expansion strategies, particularly in scaling its underwriting and technology teams. The firm plans to:

  1. Strengthen its presence across key markets
  2. Enhance risk management capabilities

Statements from Leadership

Soter Insure’s founder and CEO, Henson Orser, stated, “Our mission at Soter is to set a new standard for risk management in the digital assets space. We are proud to have the support of Galaxy and our other Series A investors as we work to build innovative insurance products that meet the unique needs of the market.”

Mike Novogratz, founder and CEO of Galaxy Digital, echoed this sentiment, saying, “Galaxy is excited to support Soter Insure in their mission to bring innovative insurance solutions to the digital asset ecosystem. Their tailored approach to risk management meets a crucial industry need, empowering digital asset holders and operators with confidence.”

For more information about Soter Insure’s offerings, visit their official website at Soter Insure.

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