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“# Nasdaq-listed insurer Metromile plans $10M Bitcoin purchase ” Metromile, Inc., a digital insurer headquartered in San Francisco, is making Bitcoin (BTC) a core part of its business operations, offering further evidence of growing mainstream adoption of digital assets. The company announced Thursday that it will soon give policyholders the option to pay for insurance…
“# Decentralized insurance could save DeFi from contagion, according to ShapeShift report ” Decentralized finance has many of the hallmarks of previous cryptocurrency bull markets: incredible gains, extreme volatility and massive risks. In a new report, leading noncustodial cryptocurrency exchange ShapeShift explains the four biggest risks facing DeFi investors and why the emerging field of…
“# Nexus Mutual moves to sundown legal entity, lift KYC requirements ” In a move that could point towards greater decentralization and wider access, the Nexus Mutual community is currently considering a proposal to sunset the coverage protocol’s legal entity and lift Know Your Customer (KYC) burdens currently necessary to interact with the platform. The…
“# BitGo expands crypto insurance to cover over $700M ” Digital asset custody firm BitGo has expanded its cold storage insurance program, raising its insurance capacity by $600 million. BitGo debuted its crypto insurance program through global insurance and reinsurance market Lloyd’s of London in 2019. This enabled BitGo clients to acquire insurance for their…
“# Switzerland’s largest insurer AXA starts accepting Bitcoin as payment ” Europe’s second-largest insurance firm AXA has become Switzerland’s first all-line insurer to offer its customers the option to pay their bills with Bitcoin (BTC), facilitated through a collaboration with the established cryptocurrency broker Bitcoin Suisse. Bitcoin payments will be accepted for nearly all AXA…
“# Linux Foundation launches blockchain-based platform for insurance ” The Linux Foundation, the nonprofit technology consortium that supports the Linux operating system, is backing a new blockchain-based project for the insurance industry. On Monday, the foundation announced the launch of the Open Insurance Data Link platform, a project that aims to reduce the cost of insurance reporting…
“# Oasis Foundation announces implementation of Tidal DeFi insurance platform ” The Oasis Foundation, an offshoot of Oasis Network developers Oasis Labs, announced in a blog post on Friday that decentralized finance (DeFi) insurance and coverage provider Tidal Finance will be implementing a version of their platform on the Oasis Network. The blog post noted…
“# NYDIG raises $100 million and launches ‘Bitcoin-powered’ insurance initiative ” New York Digital Investment Group announced the completion of a growth capital funding round as well as the launch of a business initiative relating to Bitcoin. In an announcement today, the New York Digital Investment Group, or NYDG, said it had secured $100 million…
“# Chinese holding firm Ping An overtakes Tencent in blockchain patents race ” Chinese holding conglomerate Ping An Group filed the largest number of blockchain-related patents in 2020, according to a new report. Intellectual property-focused magazine Intellectual Asset Management has released a report on the rankings of the world’s foremost blockchain patentees. Based on data…
“# ‘Better as friends’: DeFi protocols Yearn and Cover announce cessation of merger ” Decentralized finance (DeFi) protocols Yearn Finance and Cover have announced today the end of a protocol merger process initiated in November last year. The two protocols were initially linked during a spree of a half-dozen Yearn acquisitions, mergers, or collaborations, the…