Tabit Insurance Launches $40M Bitcoin-Backed Reserve to Transform Industry
Barbados-regulated insurer introduces blockchain transparency and bitcoin-only reserves to underwrite traditional policies, marking a significant innovation in the insurance sector.
- Tabit Insurance, founded by former Bittrex executives, has raised a $40 million insurance reserve funded entirely in bitcoin, an industry first.
- The company operates under a Class 2 license from the Barbados Financial Services Commission and offers policies denominated in U.S. dollars.
- Tabit’s bitcoin-backed reserve is managed with Fireblocks’ non-custodial technology, allowing bitcoin holders to contribute assets and earn yields of around 10%.
- The reserve is verifiable on the blockchain, providing real-time transparency for regulators and auditors, a departure from traditional quarterly disclosures.
- This approach integrates digital assets into regulated insurance frameworks, offering an alternative to trading for bitcoin holders while reducing counterparty risk.
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