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Standard Chartered and SBI Back Crypto Insurer Soter in $23.5 Million Funding Round
(3 hours ago) · 1 source · Summarized by CryptoBipto
Soter, a company focused on cryptocurrency insurance, has raised $23.5 million in funding with backing from Standard Chartered and SBI. The funding reportedly includes both fiat currency and crypto assets such as BTC and ETH, as banks seek theft protection solutions for digital assets.
WHY IT MATTERS
When you put money in a traditional bank, government programs like the FDIC in the United States typically insure your deposits up to a certain amount, meaning you get your money back if the bank fails.
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SOURCES
- coindesk.com
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