Articles from Tabit Insurance SCC

Tabit Insurance SCC (“Tabit”), a global (re)insurance company with bitcoin-backed reserves, today announced that it has joined the Texas Blockchain Council (“TBC”), an industry association dedicated to advancing blockchain innovation and policy in Texas. Tabit will work with the TBC to educate investors in the region on the intersection of digital assets and insurance and how holders of BTC can earn a regulated yield through insurance structures.

Tabit Insurance SCC (“Tabit”) today announced the capitalization of its USD$40 million insurance facility, funded 100% by bitcoin (“BTC”), in an industry first. 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. As the market is currently priced at attractive levels and with alternative capital sources continuing to increase as a source of capacity, Tabit’s use of BTC provides an innovative source of capital for the insurance industry. While the capital is held in bitcoin, the insurance policies and premiums are all denominated in USD.