Law360 (April 8, 2021, 8:42 PM EDT) — New York Digital Investment Group, an asset manager focused on bitcoin investments, says it plans to expand the use of bitcoin in insurance products after raising another $100 million from investors Thursday, just a month after announcing $200 million in new financing.
New York Digital Investment Group, also called NYDIG, works with insurers, banks, corporations and high-net-worth individuals to provide bitcoin investment services such as research, custody and anti-money laundering measures, according to its website.
Executive Chairman Ross Stevens suggested Bitcoin can be a solution to depreciating value of traditional, fiat currencies.
“Fiat depreciation causes inflation in fiat premiums, while collapsing…
Read More:NY Investment Firm Nabs $100M To Grow Bitcoin In Insurance