Blockchain Pioneer Secures $40 Million in Bitcoin-Backed Investment
Tabit Insurance Secures $40 Million in Bitcoin-Centric Funding
Tabit Insurance, a digital insurance company, has announced that it has secured $40 million in funding, with a significant portion of the investment focused on its bitcoin-centric business.
The funding round, led by investors including Gaingels, a cryptocurrency-focused investment firm, and others, brings the company's total funding to date to over $50 million. The investment will be used to further develop Tabit's bitcoin-backed insurance products and expand its presence in the digital asset market.
"We are thrilled to have secured this significant funding, which will enable us to accelerate our growth and expand our offerings in the bitcoin-centric space," said Tomer Pikar, co-founder and CEO of Tabit Insurance. "Our goal is to provide innovative insurance solutions that cater to the unique needs of the bitcoin market, and we believe that this funding will help us achieve that goal."
Tabit Insurance's bitcoin-centric business focuses on providing insurance products that are specifically designed for the bitcoin market. The company's products are designed to provide coverage for bitcoin holders against risks such as theft, loss, and volatility, and are intended to provide a new level of protection and peace of mind for bitcoin investors.
The company's funding round comes as the digital asset market continues to experience significant growth and adoption. According to data from CoinMarketCap, the global cryptocurrency market capitalization has grown from just over $100 billion in January 2020 to over $2 trillion today.
As the digital asset market continues to evolve and grow, Tabit Insurance is well-positioned to capitalize on the trend, with its bitcoin-centric business and innovative insurance products. The company's funding round is a testament to the growing demand for insurance products that cater to the unique needs of the digital asset market, and Tabit Insurance is poised to play a leading role in this space.