Lloyd's of London Backs Digital Asset Protection Policies on Ethereum Blockchain

Lloyd's of London is supporting digital asset protection policies arranged on the public Ethereum blockchain through Evertas and Nayms. Customers can pay in USDC or native crypto, or place policies completely on-chain. The partnership aims to coordinate between brokers, insurers, and the insured. This move towards blockchain-based insurance comes as UnmuteCrypto raises $14M despite the bear market and Bank of America sees Chainlink as a driver for DeFi's growth. The question of whether governments should be involved in issuing stablecoin insurance is also being debated. Additionally, car insurance payments with Bitcoin will soon be possible.