Standard Chartered’s venture arm and Japan’s SBI Group have joined a high-profile funding round for crypto insurer Soter Insure, pushing the company’s raise into the tens of millions while adding sizeable crypto-backed support. The latest cash injection brings Soter’s fiat funding to about $23.5 million. In addition to that cash, the round includes more than 500 BTC (roughly $38.4 million) and about 2,000 ETH (roughly $4.5 million). Counting those cryptocurrency contributions at current prices, the Series B now totals roughly $66 million. SC Ventures and SBI joined a Galaxy-led round announced Thursday. Earlier backers in this financing include Coinbase Ventures, Franklin Templeton and Brevan Howard Digital — a lineup that underscores growing institutional interest in crypto risk management. Soter sells insurance products aimed at banks, asset managers and other institutional players that are increasing their crypto exposure but remain vulnerable to hacks, theft and software failures. Some of Soter’s policies are designed to pay claims directly in bitcoin or ether rather than in dollars, a notable differentiator as institutions seek native-currency coverage. "Any BTC or ETH we have raised along the way has been used to fund insurance programs denominated in that native currency and not as working capital in the general operating account," Soter founder and CEO Henson Orser told CoinDesk, stressing the firm’s commitment to keeping crypto collateral aligned with policy payouts. The new investments reflect a broader trend: as institutional adoption of crypto accelerates, the market for specialized insurance solutions is growing — and attracting strategic capital from major banks, trading firms and traditional asset managers. Read more AI-generated news on: https://app.chaingpt.org/news