COINDESK · 2026-11-05 16:49 UTC

Standard Chartered and SBI back crypto insurer Soter as funding reaches $23.5 million

Standard Chartered's venture arm and SBI Group invested in cryptocurrency insurer Soter, bringing Series B funding to $66 million including $23.5 million cash plus 500 BTC and 2,000 ETH. Soter operates under Bermuda insurance license and recently received Dubai regulatory approval, insuring crypto losses up to $5 million or equivalent in BTC/ETH using cold storage custody. Company plans to expand insurance capacity and geographic presence across Asia, Europe and U.S. as banks increase crypto adoption but face security risks from hacks and theft.

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