Former Bittrex Execs Raise $40M in BTC to Back Barbados-Licensed Insurance Firm

Former Bittrex Execs Raise $40M in BTC to Back Barbados-Licensed Insurance Firm

Barbados-regulated Tabit Insurance raised a $40 million insurance facility funded entirely by bitcoin (BTC).

Tabit Insurance Unveils $40 Million Funding Focused on Bitcoin

The capitalization of Tabit Insurance’s insurance facility, worth $40 million, has been announced. The fundraising effort, which Tabit says is a first in the industry, was conducted entirely in bitcoin and announced on Monday (March 24). “The company’s regulators and auditors can verify the funding in real time, marking a distinctive and novel approach to transparency for the insurance industry,” Tabit said in a news release. Tabit points out th…

Tabit Insurance obtains $40m bitcoin-funded facility

Barbados-based Tabit Insurance has secured a $40m insurance facility, capitalised entirely in bitcoin. This enables real-time verification of funds by regulators and auditors, the company press release said, with the capitalisation of the facility in bitcoin touted as an “industry first”. Tabit…

Tabit offers USD insurance policies backed by Bitcoin regulatory capital - WorldNL Magazine

The Barbados-based insurance company has $40 million in Bitcoin capital, but its traditional insurance policies are priced in US dollars. 7011 Total views 3 Total shares Barbados-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. Tabit’s Bitcoin (BTC) regulatory capital will be used to back tra…

Tabit Insurance, an insurance company founded by former Bittrex executives, announced that it has raised $40 million in reserves, entirely in Bitcoin (BTC), for its traditional insurance business. It began operations in January of this year… Former Cryptocurrency Exchange Executives Raises $40 Million in Bitcoin...

Tabit offers USD insurance policies backed by Bitcoin regulatory capital

Tabit has bolstered its balance sheet with Bitcoin and will use its BTC-only reserve to write traditional insurance policies.