Nexus Mutual, the decentralized alternative to traditional insurance geared towards risks involving digital assets, is widening its distribution capabilities by backing a dedicated crypto insurance broker called Native. Native goes live with $2.6 million of seed funding led by Nexus Mutual, and the two firms are offering $20 million on-chain cover per risk, according to a press release on Tuesday. The aim is to increase capacity by connecting businesses with Nexus’s capital pools, while giving clients the ability to pay in crypto, or be paid in crypto if there is a claim, said the broker’s other co-founder Dan Ross.
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