Lloyd’s of London supports insurance policy payments using Ethereum-based cryptocurrency

BlockBeats news, July 31, according to Coindesk, the three-hundred-year-old British insurance market Lloyds of London supports the use of Ethereum on-chain cryptocurrency to pay for insurance policies. Insurance underwriter Evertas has partnered with smart contract insurance market Nayms, a partnership that allows customers to pay in USDC or native cryptocurrency, or place the policy entirely on the chain.

Evertas CEO J. Gdanski said in an interview: "Whether it is paid with USDC or native cryptocurrency, or the policy is completely on the chain, we believe this is a groundbreaking blockchain infrastructure that helps coordinate the relationship between brokers, insureds and insurance companies."