Tabit, an insurer based in Barbados, raised $40 million in Bitcoin to bolster its balance sheet and capitalize on digital assets for its USD-denominated insurance policies. This makes Tabit the first insurer to hold its regulatory reserve entirely in Bitcoin. Founded by ex-Bittrex executives, Tabit launched in January 2023 with a regulatory license from Barbados.

Co-founder William Shihara expressed excitement in earning dollars on Bitcoin, while CEO Stephen Stonberg highlighted Bitcoin's untapped insurance capital potential. With limited regulated use cases, Bitcoin offers an innovative solution for insurance returns.

The blockchain-insurance connection is expanding, with Nayms and Ensuro emerging as pioneers in facilitating digital asset-backed insurance solutions. These platforms enhance transparency and provide significant growth opportunities.