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Daily Markup #607: YAS secures US$4.5M to provide more Web3 insurance coverage; eyes Middle East

October 11, 2022 · 1 min read
Credit: YAS

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  • Commuting, hiking, cycling, or buying NFTs? 500-backed YAS MicroInsurance has got you covered! The blockchain-powered insurtech company raised a US$4.5M pre-Series A to aggressively expand their Web3 insurance services.
  • Why? The team believes the sector is underserved — only US$6 billion of Web3 assets are insured today out of a total of US$1 trillion.
  • Hong Kong-based YAS also operates in Vietnam and Malaysia, and with new investors and partnerships familiar with Middle Eastern markets, the team is also applying for a digital asset insurance license in the region.
  • “We are on track to achieve our vision of how future insurance works – autonomous insurance on-chain, as we transition from the old Web2 world into a more interconnected Web3 world,” said William Lee, Co-founder of YAS.
  • Congratulations to the YAS team!
  • Read the full story on e27.
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