The New York Digital Investment Group (NYDIG) platform, focused on large players, attracted additional investments of $ 100 million.
We’re excited about these new strategic partnerships that will expand our presence to new sectors of the global insurance industry. NYDIG’s Insurance Solutions practice, led by Mike Sapnar, will focus on driving the success of these efforts. More info: https://t.co/LkIgOrewQy
– NYDIG (@NYDIG_BTC) April 8, 2021
The platform was supported by insurance companies Starr Insurance, Liberty Mutual Insurance and other market participants. They have joined a number of strategic partners including New York Life and MassMutual.
NYDIG also hired former head of TransRe reinsurance firm Mike Sapnar as head of insurance solutions. The division will create products and services based on the first cryptocurrency.
In December 2020, NYDIG announced a $ 100 million investment in digital gold by MassMutual, the oldest insurance firm in the United States. It also acquired a $ 5 million stake in the platform.
Recall that in March 2021, NYDIG raised $ 200 million in a round involving Morgan Stanley, MassMutual, Soros Fund Management, New York Life and other investors.
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