Nexus Mutual wants to be the insurance policy your crypto never had

The entrance of traditional finance players into the world of cryptocurrency is a significant development that is being noticed by industry insiders. At the recent Digital Asset Summit in New York City, Ralf Turner, head of business development at Nexus Mutual, observed this shift firsthand during an interview with Roundtable.

Nexus Mutual, a protocol that has been focused on building decentralized insurance solutions since 2019, is seeing a surge in demand for its services. Operating as a decentralized finance (DeFi) insurance marketplace on the Ethereum blockchain, Nexus Mutual allows capital holders to deposit Ethereum and other assets into the protocol in exchange for $NXM tokens. These tokens represent a share of a collective capital pool that backs coverage for crypto-native risks such as smart contract exploits and protocol hacks.

With around 10,000 members ranging from retail investors to institutional heavyweights, Nexus Mutual offers flexibility in purchasing coverage. Buyers can pay in stablecoins, Ethereum, or Bitcoin, eliminating the need to navigate fiat-to-crypto mispricing currency risks. Turner emphasized the transparency of the protocol, with capital adequacy, active coverage books, and leverage ratios all publicly viewable on-chain.

Unlike traditional insurers, Nexus Mutual provides visibility and accountability on the blockchain, a feature that is particularly appealing to institutional allocators accustomed to opaque insurance markets. The recent exploit of Resolv’s stablecoin USR serves as a reminder of the importance of reliable insurance coverage in the volatile world of cryptocurrency.

Nexus Mutual has weathered various market upheavals, from the DeFi summer to the FTX bankruptcy and the Terra Luna collapse. Through it all, the message to users remains consistent: “Buy Nexus Mutual Cover, you’ll feel a lot better sleeping at night,” as Turner aptly puts it.

This story was originally published by TheStreet on April 9, 2026, in the MARKETS section. For more insights and updates on the evolving landscape of cryptocurrency insurance, consider TheStreet as a preferred source of information.