New York Digital Investment Group has announced that the financing round for capital growth has been completed, as well as the launch of a commercial initiative related to the bitcoin currency.
In today’s announcement, the New York Digital Investment Group, or NYDG, said it has received $ 100 million in financing from major insurance companies, including Starr Insurance, Liberty Mutual Insurance and others, in addition to its existing strategic partners, New York Life and MassMutual. … …
NYDIG, a Bitcoin-related investment and technology company, said it would launch “Bitcoin-enabled solutions for life and annuity insurance providers in the United States.” This comes after the company announced the addition of Mike Sapnar, CEO of the reinsurance company TransRe, who will join NYDIG as the global leader in insurance solutions.
NEWLY co-founder and CEO Robert Gottman said capital growth from Starr, Liberty Mutual and others will help the company “expand Bitcoin into new insurance areas.” Over the past six months, the company has raised $ 450 million for Bitcoin-related business initiatives in insurance, banking and clean energy.
“The depreciation of fiat leads to a rise in the price of securities, while the purchasing power of claims falls. We see a brighter future with bitcoin for the billions that depend on the insurance industry every year, “said Ross Stevens, CEO of NYDIG.
In February, NYDIG applied to register with the US Securities and Exchange Commission to launch a Bitcoin ETF. At press time, the company has reported over $ 3 billion in protected digital assets.