Infineo Group Mints $9.4M in Tokenized Life Insurance Policies on Provenance Blockchain

Jun 18, 2024, 02:22 PM

Infineo Group has made a significant advancement in the $3 trillion insurance industry by minting $9.4 million worth of life insurance policies on the Provenance Blockchain. This pioneering move, achieved in collaboration with ProvLabs, marks the world's first instance of tokenized life insurance policies. The tokenization process reduces the need for intermediaries, potentially making insurance policies more affordable and accessible. The initiative is part of a broader trend towards the tokenization of real-world assets, with the insurance industry being a $3 trillion market ripe for innovation.