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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