Skip to main content
QNews

Crypto markets, protocols and policy

SC Ventures and SBI join Soter’s crypto insurance round

SC Ventures and SBI joined Soter Insure’s Series B, with proceeds set for more underwriting capacity; the company has not disclosed the new investors’ commitments.

The QNews Desk3 min read

SC Ventures and SBI join Soter’s crypto insurance round

Why are Standard Chartered and SBI backing a crypto insurer? Their venture and investment arms have joined Soter Insure’s Series B as the Abu Dhabi-based company seeks to expand insurance capacity for digital asset risks. Soter’s November 5 announcement says the second close also includes follow-on investment from Token Bay Capital.

The backing brings major financial groups into a specialist insurance market that Soter says institutions need to manage digital asset risks.

Who joined the Series B, and what has been disclosed?

SC Ventures, Standard Chartered’s innovation and ventures arm, and Japan’s SBI Group joined as strategic investors, according to Soter. The round is led by Galaxy; Coinbase Ventures, Franklin Templeton and Brevan Howard Digital participated in the first close, which Soter says was announced in July 2026. The company did not disclose the size of the new tranche, each investor’s commitment or a valuation.

CoinDesk reported that Soter’s backing includes about $23 million in cash, more than 500 bitcoin and 2,000 ether, with the tokens worth about $43 million at the prices it cited. That estimate puts the total near $66 million, but the crypto portion’s dollar value changes with market prices. The report attributes the funding details to Soter; the company’s November 5 announcement did not give those figures.

What will the new investment fund?

Soter says it plans to use the proceeds to increase its insurance capacity, strengthen underwriting and technology, and expand in Asia-Pacific, Europe and the United States. It names Hong Kong as its Asia-Pacific presence. The announcement does not say how much additional coverage the new funding will allow it to underwrite or when the expansion will happen.

The company offers coverage for financial institutions, including crime, specie, directors and officers, professional indemnity, slashing and smart contract failure. Soter says policies can be denominated in fiat currency or native digital assets. That matters for firms seeking cover for crypto holdings, but the announcement does not detail policy limits, exclusions or terms for the products.

What does Soter’s coverage mean for institutional buyers?

Soter frames insurance capacity as a condition for banks and asset managers applying conventional risk standards to digital assets. SC Ventures’ Herve Francois described insurance as a critical but often overlooked part of the sector, while SBI’s Yangte Kim said robust insurance solutions would become more important as digital assets gain broader adoption. Those statements set out the investors’ rationale, but they do not establish how much demand Soter can serve.

Soter is headquartered in Abu Dhabi, operates out of Bermuda and lists offices in London, New York and Dubai. Its announcement confirms the new investors and the intended use of proceeds, while leaving the financing terms and added underwriting capacity open. The disclosed backing includes volatile crypto assets, so any dollar estimate for the total will vary over time.

Sources