Standard Chartered and SBI back crypto insurer Soter
BROBROK News · Based on reporting by CoinDesk ·
Crypto insurer Soter has received backing from Standard Chartered and SBI, with total funding reaching $23.5 million. The report also says the company received 500 BTC and 2,000 ETH, worth about $43 million at current prices.
Key points
- Standard Chartered and SBI are backing Soter.
- The company’s funding round has reached $23.5 million.
- Soter also received 500 BTC and 2,000 ETH.
- Those assets were estimated at about $43 million at current prices.
- The deal points to growing institutional interest in crypto insurance infrastructure.
Why it matters
Support from major financial firms suggests rising confidence in crypto-native risk and insurance services. For market participants, it signals continued development of the infrastructure around digital assets.
Original headline: “Standard Chartered and SBI back crypto insurer Soter as funding reaches $23.5 million”
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.