SC Ventures and SBI join Soter Insure’s funding round

Soter Insure said on 5 November that SC Ventures and SBI Group joined its Galaxy-led Series B, alongside follow-on investment from Token Bay Capital. It plans to expand insurance capacity for institutional digital-asset activity.

This is a second closing of the round, following a first announced in July. The insurer says earlier participants included Coinbase Ventures, Franklin Templeton and Brevan Howard Digital. SC Ventures is Standard Chartered’s innovation and venture-investment arm; its participation should not be confused with the bank guaranteeing customers’ crypto balances.

Soter says proceeds will support underwriting, technology and expansion across markets including Asia-Pacific, Europe and the US. Its institutional products cover categories such as crime, professional indemnity, slashing and smart-contract failure, subject to the relevant policy.

The reader consequence is the availability of risk transfer as financial firms handle more digital assets. A funding announcement itself neither extends cover to every exchange user nor promises reimbursement for every loss. The practical questions remain which activity is insured, who holds the policy, its limits and the exclusions.