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

The round, led by Galaxy, brings Soter Insure's Series B to roughly $66 million including crypto assets, with earlier backers Coinbase Ventures, Franklin Templeton and Brevan Howard Digital. Soter insures against hacks, theft and software failures, paying claims in bitcoin or ether rather than dollars. CEO Henson Orser said raised BTC and ETH fund insurance programs, not operations, held in cold storage at regulated custodians. The Abu Dhabi-based firm operates under a Bermuda license and plans to expand capacity across Asia, Europe and the US as banks increase crypto use.

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• Crypto
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• Standard Chartered
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