Bitcoin-backed (re)insurer supports growing blockchain ecosystem in Texas
AUSTIN, Texas–(BUSINESS WIRE)– Tabit Insurance SCC (“Tabit”), a global (re)insurance company with bitcoin-backed reserves, today announced that it has joined the Texas Blockchain Council (“TBC”), an industry association dedicated to advancing blockchain innovation and policy in Texas. Tabit will work with the TBC to educate investors in the region on the intersection of digital assets and insurance and how holders of BTC can earn a regulated yield through insurance structures.
Founded in 2023, Tabit provides institutional-grade insurance and reinsurance solutions using capital held entirely in bitcoin. The company recently launched a USD $40 million bitcoin-backed insurance facility and is pioneering real-time proof-of-reserves for regulators and policyholders. Tabit is focused on serving corporate clients with transparent, on-chain insurance capacity in an increasingly digital financial landscape.
Stephen Stonberg, co-founder and CEO of Tabit, said: “We’re proud to join the Texas Blockchain Council and stand alongside other innovators committed to building a more resilient digital asset ecosystem. We believe that collaboration across the industry is essential to advancing the adoption of digital assets into all financial infrastructure.”
Lee Bratcher, President of the Texas Blockchain Council, added: “Insurance is a key pillar of financial infrastructure that must evolve alongside the digital economy. Tabit’s model demonstrates how bitcoin can be responsibly integrated into insurance operations. We’re excited to welcome them to the Council.”
About Tabit Insurance SCC
Tabit Insurance is a Class 2 insurer licensed by the Barbados Financial Services Commission (FSC). Tabit is an innovative insurer focused on providing insurance and alternative risk financing solutions, with a focus on bringing digital assets onto the balance for traditional insurance applications. Tabit Insurance SCC aims to bridge the gap between digital asset markets and global insurance markets. For more information, please visit http://www.tabitinsurance.com.
About Texas Blockchain Council
The Texas Blockchain Council is an industry association that works to promote the interests of our member companies. We exist to amalgamate the influence of our members, to advocate for blockchain-centric public policy initiatives, to educate members of government about the benefits of Bitcoin, cryptocurrency and blockchain technology. For more information, please visit https://texasblockchaincouncil.org.
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