{"id":5339,"date":"2026-04-13T10:00:23","date_gmt":"2026-04-13T08:00:23","guid":{"rendered":"https:\/\/osmium.finance\/?page_id=5339"},"modified":"2026-04-13T12:12:01","modified_gmt":"2026-04-13T10:12:01","slug":"captivas-vasp","status":"publish","type":"page","link":"https:\/\/osmium.finance\/index.php\/captivas-vasp\/","title":{"rendered":"Captivas VASP"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; next_background_color=&#8221;#1b03a3&#8243; admin_label=&#8221;Header&#8221; _builder_version=&#8221;4.27.0&#8243; background_color=&#8221;RGBA(255,255,255,0)&#8221; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_stops=&#8221;#091744 0%|#091744 100%&#8221; background_color_gradient_start=&#8221;#091744&#8243; background_color_gradient_end=&#8221;#091744&#8243; background_image=&#8221;https:\/\/osmium.finance\/wp-content\/uploads\/2026\/01\/fluid-osmium-02.png&#8221; parallax=&#8221;on&#8221; background_enable_video_mp4=&#8221;off&#8221; min_height=&#8221;542.1px&#8221; custom_padding=&#8221;6vw||0vw||false|false&#8221; bottom_divider_style=&#8221;ramp2&#8243; bottom_divider_height=&#8221;24vw&#8221; bottom_divider_flip=&#8221;horizontal&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.16&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; header_font=&#8221;Rubik|700||on|||||&#8221; header_font_size=&#8221;70px&#8221; header_line_height=&#8221;1.2em&#8221; text_orientation=&#8221;center&#8221; background_layout=&#8221;dark&#8221; header_font_size_tablet=&#8221;50px&#8221; header_font_size_phone=&#8221;40px&#8221; header_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h1 style=\"text-align: left;\">TOKENIZED INSURANCE CAPTIVES for vasp<\/h1>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;2_5,3_5&#8243; custom_padding_last_edited=&#8221;on|desktop&#8221; _builder_version=&#8221;4.20.4&#8243; background_color=&#8221;#FFFFFF&#8221; width=&#8221;90%&#8221; max_width=&#8221;90%&#8221; module_alignment=&#8221;left&#8221; custom_margin=&#8221;||||false&#8221; custom_padding=&#8221;48px|100px|48px|10vw|true|false&#8221; custom_padding_tablet=&#8221;|10vw||10vw||true&#8221; custom_padding_phone=&#8221;60px||||false&#8221; animation_style=&#8221;fold&#8221; animation_direction=&#8221;left&#8221; animation_intensity_fold=&#8221;20%&#8221; border_radii=&#8221;on|7px|7px|7px|7px&#8221; box_shadow_style=&#8221;preset7&#8243; box_shadow_horizontal=&#8221;0px&#8221; box_shadow_vertical=&#8221;3px&#8221; box_shadow_color=&#8221;rgba(255,255,255,0.21)&#8221; use_custom_width=&#8221;on&#8221; width_unit=&#8221;off&#8221; custom_width_percent=&#8221;90%&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_5&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_image src=&#8221;https:\/\/osmium.finance\/wp-content\/uploads\/2026\/04\/osmium-captivas-logo.png&#8221; title_text=&#8221;osmium-captivas-logo&#8221; _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_button button_text=&#8221;Request more information&#8221; _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; button_url=&#8221;https:\/\/osmium.finance\/index.php\/osmium-captivas\/#request&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;][\/et_pb_button][\/et_pb_column][et_pb_column type=&#8221;3_5&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;Arial||||||||&#8221; custom_margin=&#8221;|43px||||&#8221; custom_padding=&#8221;14px|||61px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2 data-start=\"413\" data-end=\"779\"><span style=\"color: #1b03a3;\"><strong data-start=\"413\" data-end=\"496\">Capital-Efficient Risk Coverage for VASPs<\/strong><\/span><\/h2>\n<h2 data-start=\"413\" data-end=\"779\"><span style=\"color: #1b03a3;\"><strong data-start=\"413\" data-end=\"496\"><br \/><\/strong>Meet regulatory expectations under <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">MiCA regulation<\/span><\/span> without locking millions in idle capital.<\/span><br data-start=\"551\" data-end=\"554\" \/><span style=\"color: #1b03a3;\">Captivas transforms insurance into a <strong data-start=\"591\" data-end=\"634\">transparent, yield-generating risk pool<\/strong>.<\/span><\/h2>\n<p>&nbsp;<\/p>\n<h2><strong><\/strong><\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;Feature&#8221; _builder_version=&#8221;4.20.4&#8243; background_color=&#8221;#1b03a3&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.16&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; header_2_font=&#8221;Rubik|700||on|||||&#8221; header_2_font_size=&#8221;44px&#8221; header_2_letter_spacing=&#8221;1px&#8221; header_2_line_height=&#8221;1.3em&#8221; background_layout=&#8221;dark&#8221; header_2_font_size_tablet=&#8221;34px&#8221; header_2_font_size_phone=&#8221;24px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; header_font_size__hover=&#8221;30px&#8221; header_font_size__hover_enabled=&#8221;30px&#8221; header_letter_spacing__hover=&#8221;0px&#8221; header_letter_spacing__hover_enabled=&#8221;0px&#8221; header_text_shadow_style__hover=&#8221;none&#8221; header_text_shadow_style__hover_enabled=&#8221;none&#8221; header_text_shadow_color__hover=&#8221;rgba(0,0,0,0.4)&#8221; header_text_shadow_color__hover_enabled=&#8221;rgba(0,0,0,0.4)&#8221;]<\/p>\n<h2>Insurance is broken for VASPs<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><strong>THE POBLEM\u00a0<\/strong><\/h2>\n<ul data-start=\"788\" data-end=\"1007\">\n<li data-section-id=\"11lpqjw\" data-start=\"788\" data-end=\"878\">\n<h2>Limited capacity from traditional markets (e.g. <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Lloyd&#8217;s of London<\/span><\/span>)<\/h2>\n<\/li>\n<li data-section-id=\"10f1dwk\" data-start=\"879\" data-end=\"913\">\n<h2>High premiums (5\u201315% annually)<\/h2>\n<\/li>\n<li data-section-id=\"1ik6qwp\" data-start=\"914\" data-end=\"959\">\n<h2>Narrow coverage (exclusions on key risks)<\/h2>\n<\/li>\n<li data-section-id=\"1wkg0q3\" data-start=\"960\" data-end=\"1007\">\n<h2>Regulatory pressure \u2192 large capital buffers<\/h2>\n<\/li>\n<\/ul>\n<h2 data-section-id=\"17p26bw\" data-start=\"1014\" data-end=\"1029\">The result:<\/h2>\n<ul data-start=\"1031\" data-end=\"1113\">\n<li data-section-id=\"1ogs4ch\" data-start=\"1031\" data-end=\"1066\">\n<h2>Capital locked and unproductive<\/h2>\n<\/li>\n<li data-section-id=\"1x17n6q\" data-start=\"1067\" data-end=\"1095\">\n<h2>Reduced return on equity<\/h2>\n<\/li>\n<li data-section-id=\"7mxgg9\" data-start=\"1096\" data-end=\"1113\">\n<h2>Slower growth<\/h2>\n<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.16&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; header_2_font=&#8221;Rubik|700||on|||||&#8221; header_2_font_size=&#8221;44px&#8221; header_2_letter_spacing=&#8221;1px&#8221; header_2_line_height=&#8221;1.3em&#8221; background_layout=&#8221;dark&#8221; header_2_font_size_tablet=&#8221;34px&#8221; header_2_font_size_phone=&#8221;24px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; header_font_size__hover=&#8221;30px&#8221; header_font_size__hover_enabled=&#8221;30px&#8221; header_letter_spacing__hover=&#8221;0px&#8221; header_letter_spacing__hover_enabled=&#8221;0px&#8221; header_text_shadow_style__hover=&#8221;none&#8221; header_text_shadow_style__hover_enabled=&#8221;none&#8221; header_text_shadow_color__hover=&#8221;rgba(0,0,0,0.4)&#8221; header_text_shadow_color__hover_enabled=&#8221;rgba(0,0,0,0.4)&#8221;]<\/p>\n<h2>\u00a0Tokenized Captive Insurance for VASP<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2 data-section-id=\"1syua6t\" data-start=\"1144\" data-end=\"1185\">Captivas enables VASPs to:<\/h2>\n<ul data-start=\"1215\" data-end=\"1332\">\n<li data-section-id=\"1njvo1g\" data-start=\"1215\" data-end=\"1256\">\n<h2>Pool risk with other regulated actors<\/h2>\n<\/li>\n<li data-section-id=\"1debgj9\" data-start=\"1257\" data-end=\"1285\">\n<h2>Access scalable coverage<\/h2>\n<\/li>\n<li data-section-id=\"1j77b3b\" data-start=\"1286\" data-end=\"1332\">\n<h2>Turn reserves into yield-generating assets<\/h2>\n<\/li>\n<\/ul>\n<blockquote data-start=\"1339\" data-end=\"1396\">\n<h2 data-start=\"1341\" data-end=\"1396\"><strong data-start=\"1341\" data-end=\"1396\">From cost center \u2192 capital-efficient infrastructure<\/strong><\/h2>\n<\/blockquote>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_3,1_3,1_3&#8243; make_equal=&#8221;on&#8221; _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#2251b7&#8243; custom_padding=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_tablet=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_phone=&#8221;20px|20px|20px|20px|true|true&#8221; custom_padding_last_edited=&#8221;on|desktop&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;1px&#8221; border_color_all=&#8221;RGBA(255,255,255,0)&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;6d4fb326-ffa2-4586-bb4b-81fef06878c0&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h5><strong><span style=\"color: #ffffff;\">VIRTUAL ASSET SERVICES PROVIDER (VASP)<\/span><\/strong><\/h5>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;e2a80ad4-7a02-4d7a-83e7-5ebdc59e925c&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span style=\"color: #ffffff;\"><strong>Q: <\/strong><em>Why should I join Osmium CAPTIVAS?<\/em><\/span><\/h2>\n<h2><span style=\"color: #ffffff;\"><em data-start=\"2579\" data-end=\"2615\"><br \/><\/em><\/span><span style=\"color: #ffffff;\"><strong data-start=\"2618\" data-end=\"2624\">A:<\/strong> Joining Osmium CAPTIVAS enables your organization to access risk coverage where traditional insurance is limited or unavailable. You can meet regulatory expectations under <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">MiCA regulation<\/span><\/span> while reducing capital locked in reserves. Captivas provides a transparent, efficient, and structured solution to protect your assets and operations, with faster and more predictable claims processes.<\/span><\/h2>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#2251b7&#8243; custom_padding=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_tablet=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_phone=&#8221;20px|20px|20px|20px|true|true&#8221; custom_padding_last_edited=&#8221;on|desktop&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;1px&#8221; border_color_all=&#8221;RGBA(255,255,255,0)&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;6d4fb326-ffa2-4586-bb4b-81fef06878c0&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h5><strong><span style=\"color: #ffffff;\">INVESTORS<\/span><\/strong><\/h5>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;e2a80ad4-7a02-4d7a-83e7-5ebdc59e925c&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span style=\"color: #ffffff;\"><strong data-start=\"2899\" data-end=\"2916\"><em>Q: <\/em><\/strong><em>What\u2019s in it for me? What are the risks and potential yield?<\/em><\/span><\/h2>\n<h2><br data-start=\"2979\" data-end=\"2982\" \/><span style=\"color: #ffffff;\"><strong data-start=\"2982\" data-end=\"2988\">A:<\/strong> Investors gain exposure to diversified, yield-generating risk pools backed by VASP premiums. Returns are derived from structured premium flows and underlying asset yields. Risks are mitigated through pooled captives, risk tranching, and transparent on-chain monitoring. Expected returns vary depending on the risk profile of participating VASPs, offering an alternative to traditional insurance-linked investments with enhanced visibility and control.<\/span><\/h2>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#2251b7&#8243; custom_padding=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_tablet=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_phone=&#8221;20px|20px|20px|20px|true|true&#8221; custom_padding_last_edited=&#8221;on|desktop&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;1px&#8221; border_color_all=&#8221;RGBA(255,255,255,0)&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;6d4fb326-ffa2-4586-bb4b-81fef06878c0&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h5><strong><span style=\"color: #ffffff;\">REGULATORS &amp; COMPLIANCE OFFICERS<\/span><\/strong><\/h5>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;e2a80ad4-7a02-4d7a-83e7-5ebdc59e925c&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span style=\"color: #ffffff;\"><strong>Q:<\/strong><em>How does Osmium CAPTIVAS support regulatory requirements and risk management?<\/em><\/span><\/h2>\n<h2><br data-start=\"2979\" data-end=\"2982\" \/><span style=\"color: #ffffff;\"><strong data-start=\"2982\" data-end=\"2988\">A:<\/strong> Osmium CAPTIVAS is designed to complement regulatory frameworks such as <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">MiCA regulation<\/span><\/span> by providing a structured, transparent approach to risk coverage and capital management. The model enhances oversight through real-time visibility of reserves, clear risk allocation, and auditable processes. It supports VASPs in meeting safeguard expectations while improving the efficiency and resilience of their risk management frameworks.<\/span><\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span role=\"text\"><strong data-start=\"1406\" data-end=\"1425\">HOW IT WORKS<\/strong><\/span><\/h2>\n<h2 data-section-id=\"cpj2fy\" data-start=\"1427\" data-end=\"1449\">1. Join the Pool<\/h2>\n<h2 data-start=\"1450\" data-end=\"1491\">VASPs contribute premiums or collateral<\/h2>\n<h2 data-section-id=\"184wrsy\" data-start=\"1493\" data-end=\"1514\">2. Get Coverage<\/h2>\n<h2 data-start=\"1515\" data-end=\"1573\">Protection against custody, cyber, and operational risks<\/h2>\n<h2 data-section-id=\"hebu72\" data-start=\"1575\" data-end=\"1604\">3. Capital is Optimized<\/h2>\n<h2 data-start=\"1605\" data-end=\"1618\">Reserves are:<\/h2>\n<ul data-start=\"1619\" data-end=\"1696\">\n<li data-section-id=\"8sjy8t\" data-start=\"1619\" data-end=\"1640\">\n<h2>Partially secured<\/h2>\n<\/li>\n<li data-section-id=\"15io9v1\" data-start=\"1641\" data-end=\"1696\">\n<h2>Partially deployed into real-world yield strategies<\/h2>\n<\/li>\n<\/ul>\n<h2 data-section-id=\"dtvj6d\" data-start=\"1698\" data-end=\"1730\">4. Claims Paid Efficiently<\/h2>\n<ul data-start=\"1731\" data-end=\"1794\">\n<li data-section-id=\"18kduyq\" data-start=\"1731\" data-end=\"1769\">\n<h2>Automated (parametric) or governed<\/h2>\n<\/li>\n<li data-section-id=\"1yuxtl1\" data-start=\"1770\" data-end=\"1794\">\n<h2>Transparent and fast<\/h2>\n<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span role=\"text\"><strong data-start=\"1804\" data-end=\"1827\">FINANCIAL IMPACT<\/strong><\/span><\/h2>\n<h2 data-section-id=\"2ss8oi\" data-start=\"1829\" data-end=\"1850\">Traditional Model<\/h2>\n<ul data-start=\"1851\" data-end=\"1907\">\n<li data-section-id=\"1w6on8i\" data-start=\"1851\" data-end=\"1868\">\n<h2>\u20ac50M coverage<\/h2>\n<\/li>\n<li data-section-id=\"1d0awpy\" data-start=\"1869\" data-end=\"1884\">\n<h2>\u20ac4M premium<\/h2>\n<\/li>\n<li data-section-id=\"6qdywr\" data-start=\"1885\" data-end=\"1907\">\n<h2>\u20ac50M idle reserves<\/h2>\n<\/li>\n<\/ul>\n<h2 data-section-id=\"17ux7vm\" data-start=\"1914\" data-end=\"1932\">Captivas Model<\/h2>\n<ul data-start=\"1933\" data-end=\"2031\">\n<li data-section-id=\"1bn9leu\" data-start=\"1933\" data-end=\"1959\">\n<h2>\u20ac2.5\u20133M effective cost<\/h2>\n<\/li>\n<li data-section-id=\"1fwz58z\" data-start=\"1960\" data-end=\"1996\">\n<h2>Reserves generating yield (4\u20138%)<\/h2>\n<\/li>\n<li data-section-id=\"18yav1b\" data-start=\"1997\" data-end=\"2031\">\n<h2>Potential upside participation<\/h2>\n<\/li>\n<\/ul>\n<h2 data-start=\"2038\" data-end=\"2085\"><strong data-start=\"2041\" data-end=\"2085\">Up to 60% capital efficiency improvement<\/strong><\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span role=\"text\"><strong data-start=\"2095\" data-end=\"2126\">WHY CFOs CHOOSE CAPTIVAS<\/strong><\/span><\/h2>\n<h2 data-section-id=\"1f320mo\" data-start=\"2128\" data-end=\"2158\">\u2714 Reduce Insurance Costs<\/h2>\n<h2 data-start=\"2159\" data-end=\"2192\">Mutualized risk lowers premiums<\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2 data-section-id=\"1we1b6f\" data-start=\"2194\" data-end=\"2227\">\u2714 Unlock Capital Efficiency<\/h2>\n<h2 data-start=\"2228\" data-end=\"2261\">Idle reserves become productive<\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2 data-section-id=\"dpfbv4\" data-start=\"2263\" data-end=\"2282\">\u2714 Improve ROE<\/h2>\n<h2 data-start=\"2283\" data-end=\"2310\">Yield replaces sunk costs<\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2 data-section-id=\"1ftoie3\" data-start=\"2312\" data-end=\"2337\">\u2714 Gain Transparency<\/h2>\n<h2 data-start=\"2338\" data-end=\"2383\">Real-time visibility into risk and reserves<\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span role=\"text\"><strong data-start=\"2393\" data-end=\"2409\">COVERAGE<\/strong><\/span><\/h2>\n<h2 data-start=\"2411\" data-end=\"2425\">Initial scope:<\/h2>\n<ul data-start=\"2427\" data-end=\"2535\">\n<li data-section-id=\"1bbhdrg\" data-start=\"2427\" data-end=\"2464\">\n<h2>Custody risk (hot &amp; cold wallets)<\/h2>\n<\/li>\n<li data-section-id=\"1jrye6w\" data-start=\"2465\" data-end=\"2491\">\n<h2>Cybersecurity breaches<\/h2>\n<\/li>\n<li data-section-id=\"9w0ilf\" data-start=\"2492\" data-end=\"2516\">\n<h2>Operational failures<\/h2>\n<\/li>\n<li data-section-id=\"mtwxkb\" data-start=\"2517\" data-end=\"2535\">\n<h2>Internal fraud<\/h2>\n<\/li>\n<\/ul>\n<h2 data-start=\"2542\" data-end=\"2562\"><\/h2>\n<h2 data-start=\"2542\" data-end=\"2562\">Optional extensions:<\/h2>\n<ul data-start=\"2564\" data-end=\"2621\">\n<li data-section-id=\"ubhsw\" data-start=\"2564\" data-end=\"2587\">\n<h2>Smart contract risk<\/h2>\n<\/li>\n<li data-section-id=\"1coq0r1\" data-start=\"2588\" data-end=\"2621\">\n<h2>Stablecoin reserve protection<\/h2>\n<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2 data-section-id=\"1tti76j\" data-start=\"2628\" data-end=\"2658\"><span role=\"text\"><strong data-start=\"2631\" data-end=\"2658\">REGULATORY ALIGNMENT<\/strong><\/span><\/h2>\n<h2>Designed for:<\/h2>\n<ul data-start=\"2674\" data-end=\"2715\">\n<li data-section-id=\"cgv1px\" data-start=\"2674\" data-end=\"2715\">\n<h2><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">MiCA regulation<\/span><\/span><\/h2>\n<\/li>\n<\/ul>\n<h2>Supports:<\/h2>\n<ul data-start=\"2727\" data-end=\"2815\">\n<li data-section-id=\"1m1j6r4\" data-start=\"2727\" data-end=\"2753\">\n<h2>Safeguard requirements<\/h2>\n<\/li>\n<li data-section-id=\"1wzrkvr\" data-start=\"2754\" data-end=\"2784\">\n<h2>Risk management frameworks<\/h2>\n<\/li>\n<li data-section-id=\"gn62jm\" data-start=\"2785\" data-end=\"2815\">\n<h2>Auditability and reporting<\/h2>\n<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2 data-section-id=\"gm4lbl\" data-start=\"2903\" data-end=\"2929\"><span role=\"text\"><strong data-start=\"2906\" data-end=\"2929\">RISK MANAGEMENT<\/strong><\/span><\/h2>\n<ul data-start=\"2931\" data-end=\"3062\">\n<li data-section-id=\"4komsq\" data-start=\"2931\" data-end=\"2972\">\n<h2>Structured tranches (senior \/ junior)<\/h2>\n<\/li>\n<li data-section-id=\"wvqmma\" data-start=\"2973\" data-end=\"3002\">\n<h2>Diversified pool of VASPs<\/h2>\n<\/li>\n<li data-section-id=\"4strjz\" data-start=\"3003\" data-end=\"3025\">\n<h2>Risk-based pricing<\/h2>\n<\/li>\n<li data-section-id=\"1p3ejcd\" data-start=\"3026\" data-end=\"3062\">\n<h2>Deductibles and co-participation<\/h2>\n<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_divider divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.20.4&#8243; max_width=&#8221;80px&#8221; height=&#8221;4px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.20.4&#8243; text_font=&#8221;Lato||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;2em&#8221; background_layout=&#8221;dark&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2><span role=\"text\"><strong data-start=\"3072\" data-end=\"3103\">TRANSPARENCY &amp; REPORTING<\/strong><\/span><\/h2>\n<ul data-start=\"3105\" data-end=\"3190\">\n<li data-section-id=\"ivsllb\" data-start=\"3105\" data-end=\"3134\">\n<h2>Real-time solvency ratios<\/h2>\n<\/li>\n<li data-section-id=\"ng3vvq\" data-start=\"3135\" data-end=\"3164\">\n<h2>On-chain reserve tracking<\/h2>\n<\/li>\n<li data-section-id=\"1r1hoq5\" data-start=\"3165\" data-end=\"3190\">\n<h2>Audit-ready reporting<\/h2>\n<\/li>\n<\/ul>\n<h2 data-start=\"3197\" data-end=\"3236\">Built for CFO and compliance teams<\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKENIZED INSURANCE CAPTIVES for vaspCapital-Efficient Risk Coverage for VASPs Meet regulatory expectations under MiCA regulation without locking millions in idle capital.Captivas transforms insurance into a transparent, yield-generating risk pool. &nbsp; Insurance is broken for VASPsTHE POBLEM\u00a0 Limited capacity from traditional markets (e.g. Lloyd&#8217;s of London) High premiums (5\u201315% annually) Narrow coverage (exclusions on key risks) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-5339","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>tokenisation real world asset tokenization<\/title>\n<meta name=\"description\" content=\"tokenisation real world asset tokenization\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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