The CEO and Chairperson of America’s biggest Life insurance firm has joined the board of NYDIG. NYDIG is the leading facilitator of technology and investment solution for Bitcoin. New York Life has an evaluation of $ 700 billion in assets and is the world’s largest mutual insurance company. The news of the powerful personality of Ted Mathas joining NYDIG has been a point of discussion among many crypto forums.
The resume of Mr. Mathas includes being on the chairing board of ACLI or (American Council of Life Insurers). ACLI represents more than 280 member companies that cover 95% of the Insurance companies in the USA and manages more than $7 trillion in assets. His accomplishments have also taken him on the chairing positions of the American Museum of Natural History, New York City Partnership, and Law School Foundation of the University of Virginia.
NYDIG to Cement its Position as Leading Bitcoin Insurance Service Provider
Mutual Insurance is a field of Investment that requires very secure payment backup and stable venture capital. NYDIG aims to use the expertise and skills of Mr. Mathas for developing and promoting Bitcoin enabled marketplace for life insurance products and annuity. Other agendas of NYDIG that would need Mr. Mathas’s supervision are its Investors Solution Business growth, activating institutional investment, alongside facilitating secure, simple, and proficient public access to Bitcoin.
According to the Founder and Executive Chairperson of NYDIG, Ross Stevens, it seems very optimistic about the recruitment of Ted on the NYDIG team. He says in a statement about the future of NYDIG that Ted has a proven track record of innovation and stewardship at New York Life, which is going to be perfect to compliment the future contributions for NYDIG. It should be noted that he and Ross Stevens have been close acquaintances for years. In comparison, NYDIG is fundamentally a company that provides Bitcoin technology and investment solutions to insurers, banks, corporations, institutions, and High-Net-Worth (HNWs) individuals.
A Strong Move by the Bitcoin Facilitator Towards Building Future
New York Life is a Fortune 500 Company that has been in business since 1845. The total worth of this organization is bigger than some western central banks. Ted Mathas joined New York Life in 2006. He was promoted to CEO in 2008 and became the Chairperson of the board in 2009. Ted himself is optimistic about this new adventure at NYDIG and had high hopes for joining the Bitcoin bandwagon at a time when Bitcoin continues to mature and expand.
NYDIG has managed to raise $200 million from the biggest and quite conservative investors in the market. Some of these names are Morgan Stanley, MassMutual, FS investments, and Soros Fund Management.