Crypto insurer Soter Insure said Standard Chartered and SBI Group have invested in the company, taking its Series B financing to about $66 million. That total includes both cash funding and cryptocurrency contributions, with the company also receiving 500 bitcoin and 2,000 ether valued at roughly $43 million at current prices.
The Abu Dhabi-based firm offers cover for losses tied to hacks, theft and software failures in the digital-asset market. Soter said the new capital is intended to expand its underwriting capacity and support growth across Asia, Europe and the United States as banks and asset managers increase their use of cryptocurrencies.
A funding round built around crypto-native insurance
Soter’s model is unusual even within the digital-asset insurance market because it writes policies funded in bitcoin or ether and pays claims in the same currency. Founder Henson Orser said any BTC or ETH raised by the company is used to support insurance programs denominated in those assets rather than to fund day-to-day operations.
That structure is aimed at matching the assets backing a policy with the currency in which a claim would be settled. The company said the latest fundraising will help it write more business at a time when larger financial institutions are looking for protection as their exposure to crypto grows.
Current limits and how risk is managed
According to Soter, it can insure losses of up to $5 million, 200 BTC or 2,000 ETH using its own balance sheet. For policies above those thresholds, the company works with other insurers to spread the risk.
Soter said funds supporting these policies are held in separate accounts and kept in cold storage with regulated custodians. The arrangement is meant to isolate policy assets while providing custody controls for the cryptocurrencies used to back coverage.
Licensing footprint across key markets
Soter is based in Abu Dhabi and operates under a Bermuda insurance license that allows it to insure risks denominated in cryptocurrencies as well as traditional currencies. The company also said it has full license approval from Dubai’s financial regulator.
In addition to its Abu Dhabi base, Soter maintains offices in London, New York and Dubai. That geographic footprint aligns with the regions the company identified for expansion following the latest investment.
Why insurers are getting more attention
The fundraising comes as banks and asset managers step up their activity in digital assets while continuing to face risks from hacks, thefts and software failures. Soter’s view is that broader institutional adoption cannot scale without more risk protection, an area it described as still limited.
The company also pointed to an unresolved issue for the sector: how insurance policies should handle losses linked to autonomous AI agents. Insurers are still working through where coverage should apply and where losses may be treated instead as operator error.
Next step is added capacity and regional growth
Soter said it plans to use the Series B proceeds to increase insurance capacity and expand further in Asia, Europe and the U.S. The immediate confirmed use of the crypto portion of the raise is to support bitcoin- and ether-denominated insurance programs, while the broader round is intended to help the company serve rising institutional demand for digital-asset protection.
Source: www.coindesk.com