Venture capital firm Morgan Creek Digital Assets spearheaded a round of seed funding led by cryptocurrency insurer Evertas. The company raised $ 2.8 million at the seed stage.

Morgan Creek Capital founder Mark Yusko joins the board of directors of Evertas. Plug n Play, Kailash Ventures, RenGen, Vy Capital and Wavemaker Genesis also took part in the investment round.

Formerly known as BlockRe, the company offers covered insurance policies for both cold and hot wallets. Clients include exchanges, custodian service providers, traditional financial institutions, hedge funds, family offices, and ultra-wealthy individuals.

The list of services also includes risk assessment, risk mitigation and monitoring, compliance and audit, litigation, competitive intelligence, brand protection, and incident response, investigation and recovery.

According to the startup's website, the company's top managers have gained experience in Bank of New York Mellon, Lemonade, and other companies.

Evertas operates in the state of California as an insurance agency for BlockHoldings and is licensed by the Bermuda financial regulator as a "class 3A" insurer. This obliges the company to maintain a minimum capital and free cash of at least $ 1 million.

Recall that the Gemini bitcoin exchange created the company Nakamoto, Ltd to insure its own custodian service for $ 200 million.