ChainCatcher news, the crypto insurance brokerage Native has completed a $2.6 million seed round financing, led by Nexus Mutual.Native will provide $20 million of on-chain insurance for each risk and will operate a fund pool on Nexus Mutual.Ben Davies, co-founder and CEO of Native, stated in an interview: "Native's role is to help address the long-standing issue of underinsurance in the market. Without a liquid insurance market, no industry can thrive, which is why we have established an on-chain commercial insurance brokerage, something that the market truly lacks."

ChainCatcher news, UK crypto asset insurance company Coincover will provide third-party key disaster recovery services for crypto custody technology provider Fireblocks. Fireblocks uses MPC key sharding technology, allowing users to independently back up their keys; Coincover's Director of Strategy and Partnerships Oliver Cummings stated that if something happens to the user or Fireblocks, Coincover can act as a third party to recover the wallet for customers, as Coincover has very fixed processes and standard service level agreements. (CoinDesk)

ChainCatcher news, Web3 insurance protocol InsurAce founder Oliver tweeted that after the UST and FTX collapse events, the InsurAce team is currently collaborating with relevant industry organizations and regulatory bodies to begin exploring the establishment of a Crypto Deposit Insurance Scheme (CDIS). CDIS is similar to the insurance infrastructure of the Federal Deposit Insurance Corporation (FDIC) in the traditional financial industry. When financial institutions go bankrupt, this insurance scheme will intervene to provide compensation coverage for small and medium-sized users.Oliver stated that CDIS, as an infrastructure for industry risk management, will greatly stabilize the market, rebuild confidence, and protect user value. In the long term, this will also promote the healthy and orderly development of the digital currency industry. Previous report, InsurAce had completed approximately $12 million in insurance payouts to users who insured against UST de-pegging in August of this year. (Source link)