Anthea, a Bermuda-based insurer, raised $ 22 million in a series of a rotation led by Yunfeng Financial Group to launch what is called the first life insurance product denominated with Ethereum tokens .
The company, whose purpose is to combine life insurance with blockchain technology, said that capital will acce A press release On Wednesday.
Cryptocurrency and insurance worlds generally meet when it comes to providing a cover for the loss or theft of crypto assets held in cold storage and more. But Anthea has recently received in-principle approval from the Bermuda Monetary Authority to offer insurance denominated with digital assets.
Anthea’s policy structure is in line with any traditional life insurance policy, unless it is denominated with cryptocurrency, so premiums, pursuit payments, maturity payouts and loans will all handle the policy cryptocurrency.
The approach also targets crypto investors who want protection without converting their FIAT holders. The company also plans to include blockchain payment systems and explore ways to produce yield from crypto reserves.
“The funding of this funding is more than capital – it is a partnership with investors sharing our vision,” said CEO Alex Pei, mentioning that Anthea’s supporters include experienced insurance and fintech players.
For example, the Yunfeng Financial Group, which holds licenses from the Hong Kong Securities and Futures Commission, has control over the stake in massmutual insurance, and also holds a long -term insurance license and MPF overseer qualification from the Hong Kong Insurance Authority.
