Native, a new insurance platform, has officially launched with $2.6 million in seed funding. This funding round was led by Nexus Mutual, a decentralized insurance platform. According to a press release issued on Tuesday, Native and Nexus Mutual are teaming up to offer $20 million in on-chain cover per risk.
Nexus Mutual, which currently boasts a capital pool of around $200 million, primarily in ETH, the native token of the Ethereum blockchain, will be able to underwrite multiple coverage lines per risk right from the start. This partnership will provide users with increased security and peace of mind when using Native’s insurance platform.
With this new funding and support from Nexus Mutual, Native is poised to revolutionize the insurance industry and provide innovative solutions for individuals and businesses alike.
