Relm launches Relm II to focus on crypto businesses
Relm Insurance announced the launch of Relm II, a Bermuda-based, regulated collateralized reinsurance business that can accept both fiat and crypto as collateral.
For companies functioning in the crypto industry, Relm II permits the formation of regulated reinsurance capacity. Relm will be able to enhance its support for crypto businesses as a result of this increased capacity.
The ability for Relm II to accept collateral in either fiat or crypto is a distinction within the collateralized reinsurance space. Relm can now tap into the pools of aligned investor capital in support of traditional lines of coverage, such as D&O and professional indemnity, as well as Relm’s recent product launches for smart contract failure insurance.
“As the world’s leading crypto insurer in our third year of operations, our mission is to energize crypto businesses, enabling them to scale and grow. Relm II is an extension of that mission and a further demonstration of our commitment to support emerging sectors and our ability to think creatively and utilize regulated (re)insurance infrastructure to solve capacity problems in the crypto industry. We are excited to collaborate with aligned capital partners to build meaningful insurance capacity as the crypto economy becomes mainstream.” – Joe Ziolkowski, CEO, and co-founder at Relm and Relm II.