Latest News
Nayms Joins Forces with Coinbase to Leverage On-Chain Technology for Seamless Insurance Transactions
LONDON, May 7, 2024 /PRNewswire/ — Nayms, the cutting-edge digital insurance marketplace, is thrilled to announce a groundbreaking collaboration with Coinbase, utilizing Coinbase Prime, Base, and Coinbase Web3 wallet. This launch aims to empower insurance companies, reinsurance funds, and capital providers by leveraging on-chain technology for seamless insurance transactions. Nayms’ recent decision to build on Base, an Ethereum Layer2, incubated inside of Coinbase, sets the stage for a globally connected network to reinvent how institutional insurance markets operate.
Industry-Leading Infrastructure for On-Chain Insurance Transactions
Through this collaboration, Nayms, with the use of the Coinbase technology stack, will provide industry-leading infrastructure that enables insurance entities to transact directly on the blockchain. By utilizing Coinbase’s Prime offering, insurance companies gain access to institutional-grade security and custody—a critical requirement for effective risk management. The integration of Coinbase’s Web3 wallet with Nayms’ marketplace facilitates secure capital deposits into segregated accounts and streamlines policy binding.
“We are very excited to introduce Coinbase to our insurance partners within the Nayms ecosystem,” said Adam Adamson, Head of Business Development at Nayms. “The Coinbase Prime offering ensures top-tier security, which is paramount for any risk management company. Additionally, Coinbase’s Web 3 wallet seamlessly connects with our marketplace, allowing efficient capital flow and policy management.”
Unlocking New Opportunities for Traditional Insurers
The Nayms-Coinbase collaboration opens up fresh possibilities for traditional insurers. By providing the necessary tooling for on-chain operations, Nayms and the Coinbase product suite, empower insurers to navigate this dynamic landscape with confidence. As the crypto insurance market continues to grow, this collaboration promises to redefine industry standards and drive innovation.
About Nayms
Nayms SAC Ltd. is the world’s leading crypto-native insurance marketplace. The company is registered and regulated in Bermuda with licences for both insurance (IIGB) and digital asset (DABA Class F) business. It operates as a bridge between alternative capital and a wide variety of property and casualty risks. It provides the technical and legal infrastructure over which relevant stakeholders, including insureds, insurers, brokers, and underwriters, can come together to capitalise and transfer risk on-chain. Building on Ethereum and Base, Nayms’ diverse team uses smart contracts to enable on-chain insurance placement and crypto-native transactions for collateral, commissions, premiums, and claims.
For more information on Nayms and investment opportunities, contact [email protected] or visit the website directly.
About Coinbase Institutional
Coinbase Institutional is the market leader in delivering crypto solutions to global financial services companies. Built by experienced leaders from traditional financial services, Coinbase Institutional provides scalable solutions to institutional investors with industry-leading security and compliance. To learn more about Coinbase Institutional’s solutions, click here.
Media Contact
Sarah George
Head of Operations
[email protected]
Photo – https://mma.prnewswire.com/media/2405668/Coinbase.jpg
View original content:https://www.prnewswire.co.uk/news-releases/nayms-joins-forces-with-coinbase-to-leverage-on-chain-technology-for-seamless-insurance-transactions-302137714.html
Latest News
eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
Latest News
Revio, the young fintech winning over Old Mutual and MTN
Latest News
Basel Committee highlights rising risks from finance digitalisation in new report
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
-
Latest News6 days ago
Newgen Recognized in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions 2023 Report
-
Latest News7 days ago
Major Korean pension fund invests in carbon solutions with Stafford Capital Partners
-
Latest News6 days ago
Precisely Showcases Critical Role of Trusted Data in AI at the Gartner® Data & Analytics Summit in London
-
Latest News4 days ago
B Lab UK research reveals UK public back change to company law to put people, the planet and profit on more equal footing
-
Latest News6 days ago
One United Properties posts a consolidated turnover of 84.3 million euros and a gross profit of 37 million euros in the first three months of 2024
-
Latest News4 days ago
Unleash a Wave of Opportunities this May with Bybit
-
Latest News4 days ago
Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware
-
Latest News3 days ago
SANY Heavy Industry Reports 2023 Earnings: Overseas Revenue Soars to 60% of Core Business Amid Market Pressures, Signaling Strong Global Expansion