NYDIG raises $100 million and launches 'Bitcoin-powered' insurance initiative

NYDIG raises $100 million and launches 'Bitcoin-powered' insurance initiative

New York Digital Investment Group announced the completion of a growth capital funding round as well as the launch of a business initiative relating to Bitcoin.

In an announcement today, the New York Digital Investment Group, or NYDG, said it had secured $100 million in funding from major insurance providers including Starr Insurance, Liberty Mutual Insurance, and others in addition to its existing strategic partners, New York Life and MassMutual.

A provider of Bitcoin-related technology and investment services, NYDIG also said it would be launching “Bitcoin-powered solutions for U.S.-based life insurance and annuity providers.” This comes as the firm announced the addition of reinsurance company TransRe CEO Mike Sapnar, who will be joining NYDIG as the global head of insurance solutions.

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NYDIG co-founder and CEO Robert Gutmann said growth from capital introduced by Starr, Liberty Mutual, and other companies would help the firm’s “expansion of Bitcoin into new areas of insurance.” The company has raised $450 million in the last

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