TechFlow news — On July 31, according to Coindesk, insurance policies backed by Lloyd’s of London, the 300-year-old British insurance market, can now be paid for using cryptocurrency on Ethereum. Insurance underwriter Evertas, in collaboration with the smart contract insurance platform Nayms, is offering on-chain policies that customers can pay for using USDC or native cryptocurrencies, or fully manage on the blockchain.
J. Gdanski, CEO of Evertas, said in an interview: “We’re helping people interact seamlessly between strictly regulated, traditional, fiat-backed institutions and public blockchain infrastructure. Whether it’s paying with USDC or native crypto, or placing policies entirely on-chain via blockchain to coordinate among brokers, insured parties, and insurers, we believe this is a groundbreaking infrastructure.”
