Standard Chartered and SBI invest in crypto insurer Soter, Series B funding of approximately $66 million

Standard Chartered’s SC Ventures and Japan’s SBI Group have joined Galaxy’s lead in a Series B round for crypto insurer Soter Insure, with the raise totaling about $66 million based on current bitcoin and ether prices. Soter received roughly $23 million in cash plus more than 500 BTC and 2,000 ETH, adding to backing from prior investors including Coinbase Ventures, Franklin Templeton and Brevan Howard Digital. The insurer covers crypto asset losses from hacks, theft and software failures, and offers policies that pay claims in BTC or ETH. Soter plans to use the capital to expand underwriting capacity and grow in Asia, Europe and the US. The involvement of a major bank and a large Japanese financial group signals deepening institutional interest in crypto-native risk transfer. Watch for Soter’s capacity growth and geographic expansion as demand for digital-asset coverage evolves.