LONDON, May 7, 2024
/PRNewswire/ -- Nayms, the cutting-edge digital insurance
marketplace, is thrilled to announce a groundbreaking collaboration
with Coinbase, utilizing Coinbase Prime,
Base, and Coinbase Web3 wallet. This launch aims to
empower insurance companies, reinsurance funds, and capital
providers by leveraging on-chain technology for seamless insurance
transactions. Nayms' recent decision to build on Base, an
Ethereum Layer2, incubated inside of
Coinbase, sets the stage for a globally connected
network to reinvent how institutional insurance markets
operate.
Industry-Leading Infrastructure for On-Chain Insurance
Transactions
Through this collaboration, Nayms, with the use
of the Coinbase technology stack, will provide
industry-leading infrastructure that enables insurance entities to
transact directly on the blockchain. By utilizing
Coinbase's Prime offering, insurance companies gain
access to institutional-grade security and custody—a critical
requirement for effective risk management. The integration of
Coinbase's Web3 wallet with Nayms' marketplace
facilitates secure capital deposits into segregated accounts and
streamlines policy binding.
"We are very excited to introduce Coinbase to our
insurance partners within the Nayms ecosystem," said Adam Adamson, Head of Business Development at
Nayms. "The Coinbase Prime offering ensures
top-tier security, which is paramount for any risk management
company. Additionally, Coinbase's Web 3 wallet
seamlessly connects with our marketplace, allowing efficient
capital flow and policy management."
Unlocking New Opportunities for Traditional
Insurers
The Nayms-Coinbase collaboration opens
up fresh possibilities for traditional insurers. By providing the
necessary tooling for on-chain operations, Nayms and the
Coinbase product suite, empower insurers to navigate
this dynamic landscape with confidence. As the crypto
insurance market continues to grow, this collaboration promises to
redefine industry standards and drive innovation.
About Nayms
Nayms SAC Ltd. is the world's leading
crypto-native insurance marketplace. The company is
registered and regulated in Bermuda with licences for both insurance
(IIGB) and digital asset (DABA Class F) business. It operates as a
bridge between alternative capital and a wide variety of property
and casualty risks. It provides the technical and legal
infrastructure over which relevant stakeholders, including
insureds, insurers, brokers, and underwriters, can come together to
capitalise and transfer risk on-chain. Building on
Ethereum and Base, Nayms' diverse team uses smart
contracts to enable on-chain insurance placement and
crypto-native transactions for collateral,
commissions, premiums, and claims.
For more information on Nayms and investment opportunities,
contact lachlan@nayms.com or visit the website directly.
About Coinbase
Institutional
Coinbase Institutional is the
market leader in delivering crypto solutions to global
financial services companies. Built by experienced leaders from
traditional financial services, Coinbase Institutional
provides scalable solutions to institutional investors with
industry-leading security and compliance. To learn more about
Coinbase Institutional's solutions, click here.
Media Contact
Sarah
George
Head of Operations
sarah@nayms.com
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SOURCE Nayms