{"id":125711,"date":"2025-03-24T17:17:59","date_gmt":"2025-03-24T17:17:59","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125711"},"modified":"2025-03-24T17:17:59","modified_gmt":"2025-03-24T17:17:59","slug":"tabit-offers-usd-insurance-policies-backed-by-bitcoin-regulatory-capital","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125711","title":{"rendered":"Tabit offers USD insurance policies backed by Bitcoin regulatory capital"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBarbados-based insurer Tabit has raised $40 million in Bitcoin for its insurance facility, in a move the company said would bolster its balance sheet and allow the insurance sector to capitalize on digital assets.<br \/>\nTabit\u2019s Bitcoin (BTC) regulatory capital will be used to back traditional insurance policies, which are all denominated in US dollars, the company disclosed in a March 24 announcement.\u00a0<br \/>\nTabit claims to be the first property and casualty insurer to hold its entire regulatory reserve in BTC. The company was founded by former executives of Bittrex, a Liechtenstein-based cryptocurrency exchange that was shuttered in 2023.<br \/>\n\u201cThis solution offers a regulated dollar return, which we\u2019re excited to earn on an alternative asset class such as Bitcoin,\u201d said William Shihara, Tabit\u2019s co-founder.\u00a0<br \/>\nTabit co-founder and CEO Stephen Stonberg said Bitcoin allows the insurance sector to \u201cAccess a largely new and untapped source of insurance capital: digital assets.\u201d\u00a0<br \/>\n\u201cBitcoin means Tabit has access to a whole new pool of capital,\u201d a company spokesperson told Cointelegraph. \u201cBTC has limited regulated use cases where a hodler can earn a return, but insurance is one of them.\u201d<br \/>\nTabit launched in January as a Bitcoin-backed insurer, receiving a Class 2 license from Barbados\u2019 Financial Services Commission.\u00a0<br \/>\nVC Roundup: Bitcoin RWA, BNB incubator, Web3 gaming secure funding<br \/>\nBlockchain and the insurance sector<br \/>\nSo far, most of the discussion around cryptocurrency and insurance has been tied to helping users recover financial losses and using blockchain technology to improve the industry\u2019s transparency. According to a 2023 report by Boston Consulting Group, the blockchain-insurance nexus could become a $37 billion opportunity by 2030.<br \/>\nBehind the scenes, there\u2019s also a growing industry for matching insurance brokers and underwriters with digital asset capital providers.\u00a0<br \/>\nOne such company is Nayms, an onchain insurance marketplace that facilitates the connection between capital providers and brokers via segregated accounts.<br \/>\nEnsuro is another such provider, which curates insurance market opportunities and provides underwriting capacity through the use of stablecoins. According to its website, Ensuro has over 12,000 active policies, with APYs up to 22%.\u00a0<br \/>\nMagazine: Best and worst countries for crypto taxes \u2014 Plus crypto tax tips<a href=\"https:\/\/cointelegraph.com\/news\/tabit-insurance-policies-bitcoin-regulatory-capital?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBarbados-based insurer Tabit has raised $40 million in Bitcoin for its insurance facility, in a move the company said would bolster its balance sheet and allow the insurance&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125711"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125711"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125711\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125711"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}