Insurance capacity remains one of the missing pieces for banks entering digital assets, and Abu Dhabi-based Soter Insure has added SC Ventures and SBI Group to its Series B as strategic investors. The second close also includes a follow-on from Token Bay Capital.

The round is led by Galaxy, with Coinbase Ventures, Franklin Templeton and Brevan Howard Digital joining in the first close in July 2026. Total funding now stands at $23.5M.

On top of the cash, Soter received backing of 500 BTC and 2,000 ETH, worth about $43M at current prices.

The company covers crime, specie, slashing and smart contract failure risks for financial institutions, with policies denominated in both fiat and native digital assets. Proceeds will go toward more insurance capacity and expansion into Asia-Pacific via Hong Kong, Europe and the US.