Soter Insure successfully closed its Series A funding round led by Galaxy to enhance its specialized insurance products for the digital asset sector.

Information on the Target

Soter Insure is a pioneering company headquartered in Abu Dhabi, specializing in providing tailored insurance products for the burgeoning digital asset economy. The company has established operational bases in Bermuda, London, New York, and Dubai, and was incubated by Further Ventures and WebN Group. Soter Insure's offerings include a range of specialized digital asset insurance products designed for financial institutions, which encompass coverage for Asset Loss, Directors & Officers (D&O), and Smart Contract Failure. Uniquely, these products are denominated in both traditional fiat currencies and native digital assets.

As the Web3 landscape evolves, Soter Insure seeks to mitigate the significant barriers to broader adoption caused by the current lack of comprehensive insurance offerings. By addressing the unique risks associated with decentralized technologies, Soter aims to instill greater confidence among institutional and retail participants in the digital asset market.

Industry Overview in the Target’s Specific Country

The digital asset industry in the UAE has been experiencing robust growth, with significant investment flowing into blockchain technology and cryptocurrency ventures. Abu Dhabi has emerged as a key player in the global digital economy, support