New York Digital Investment Group announced the completion of a round of growth financing and the launch of a Bitcoin business initiative.
In an announcement today, New York Digital Group Investment or NYDG that it had secured $100 million in funding from major insurance companies including Starr Insurance Liberty Mutual Insurance and others in addition to its existing strategic partners, Life in New York and MassMutual .
Providing bitcoin-related technology and investment services , NYDIG also said it will be launching a "bitcoin-powered solution for U.S. life insurance company and annuity providers." This comes as the company announced the addition of reinsurance company TransRe CEO Mike Sapnar, who will join NYDIG as global head of insurance solutions.
NYDIG co-founder and CEO Robert Gutmann said growth through capital brought in by Starr, Liberty Mutual and others would help the company "expand Bitcoin into new areas of insurance." The company has raised $450 million in the past six months for Bitcoin-related business initiatives in insurance, banking and clean energy.
