Barbados-based insurer Tabit has raised $40 million in Bitcoin to support its insurance facility, enabling the sector to leverage digital assets. The company's traditional insurance policies are priced in US dollars but backed by Bitcoin regulatory capital, marking a significant development as Tabit claims to be the first property and casualty insurer to hold its entire regulatory reserve in Bitcoin. Co-founder William Shihara highlighted the potential to earn regulated dollar returns from an alternative asset class like Bitcoin, while CEO Stephen Stonberg emphasized access to a new pool of capital for the insurance sector. Tabit was launched in January with a Class 2 license from Barbados’ Financial Services Commission. The growing intersection of crypto and insurance presents significant business opportunities, with estimates suggesting it could become a $37 billion market by 2030. Companies like Nayms and Ensuro are facilitating connections between insurance brokers and digital asset capital providers, enhancing the industry's evolution.

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