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Innovative Use of Bitcoin as Regulatory Capital
Barbados-based insurer Tabit has raised $40 million in Bitcoin to bolster its balance sheet and support traditional insurance policies denominated in US dollars.
Pioneering Bitcoin in the Insurance Sector
Tabit claims to be the first property and casualty insurer to hold its entire regulatory reserve in Bitcoin. Co-founder William Shihara highlighted the regulated dollar returns earned on this alternative asset class.
Accessing New Capital Pools
CEO Stephen Stonberg emphasized that Bitcoin allows the insurance sector to access a largely new and untapped source of insurance capital: digital assets. A company spokesperson noted that Bitcoin holders have limited regulated avenues to earn returns, and insurance provides one such opportunity.
Regulatory Approval and Launch
Launched in January, Tabit received a Class 2 license from Barbados’ Financial Services Commission, positioning it to integrate digital assets into the insurance industry
