#None #Soter Insure #Bermuda Monetary Authority #Web3 Insurance

Soter Insure Achieves Full Licensing Approval

Soter Insure, recognized as a groundbreaking insurance provider catering specifically to the digital asset economy, recently announced a major milestone: it has obtained full licensing approval from the Bermuda Monetary Authority (BMA). This accomplishment signals a new era for the company, allowing it to offer a wide array of insurance products tailored for institutions operating within the blockchain and cryptocurrency sectors.

The approval from BMA enables Soter Insure to introduce a comprehensive suite of insurance solutions designed to meet the specific needs of digital asset institutions. Among its offerings are Directors and Officers (DO) insurance, Asset Loss coverage, and Smart Contract insurance. What sets these policies apart is their unique denominational structure; they are offered in U.S. dollars as well as in Bitcoin and Ethereum. This innovative approach effectively addresses the asset-liability mismatch that is often encountered when insuring digital assets. By allowing policyholders to be indemnified in the same currency as their insured assets, Soter Insure ensures seamless and efficient coverage.

Henson Orser, the CEO of Soter Insure, expressed his enthusiasm for this achievement, stating, "This licensing milestone underscores Soter Insure's commitment to redefining insurance for the Web3 economy. Our innovative approach ensures digital asset institutions can operate with confidence, knowing they are protected by tailored insurance solutions that meet the unique needs of their businesses."

Mohamed Hamdy, the Chairman of Soter Holdings Limited and Managing Partner at Further Ventures, noted the significance of this milestone. He commented, "Achieving full licensing from the BMA marks a pivotal moment for Soter Insure. It underscores our commitment to delivering innovative, compliant, and effective insurance solutions for the rapidly evolving digital asset landscape."

In essence, Soter Insure is not just about providing traditional insurance; it aims to set new standards in the industry by addressing the distinct challenges faced by participants in the digital asset marketplace. The company has been incubated by Further Ventures and WebN Group, showcasing its robust backing and innovative approach to risk management.

As the digital asset environment continues to evolve, institutions will require more specialized forms of protection that go beyond standard insurance offerings. Soter Insure is poised to fill this gap effectively, setting precedents for the future of insurance in the digital economy.

For more information about Soter Insure and its innovative product offerings, please visit www.soter.insure.

About Soter Insure

Soter Insure is a leading provider of specialized insurance solutions for the digital asset economy. With a keen focus on institutional investors, Soter presents a range of innovative insurance products tailored to address the unique risks inherent in the blockchain ecosystem. The company is dedicated to delivering robust, transparent, and secure risk management solutions, solidifying its standing as a key player in the fast-paced world of digital finance.