On March 6, global insurance company AXA XL announced through a press release that they would be providing insurance for online capitalization strategies, such as security token offerings (STOs) and equity crowdfunding. They are making this product available through a partnership with Assurely, which is a startup focused on insurance technology. Called CrowdProtector, the product protects both those issuing STOs and equity crowdfunding as well as those who invest in them. By offering such protection, the product aims to build trust between issuers and investors by guarantying investments. Ty Sagalow, who is the CEO of Assurely, said that the product helps issuers of the STOs and equity crowdfunding by protecting them against investor lawsuits and other forms of complaints. At the same time, the product protests investors against issuer fraud. It not only protects investors from outright theft but also protects them against the misuse of funds and the willful misrepresentation of information contained within offerings. In the past, private company investment in the United States had been limited to certain accredited investors, who either had a net worth of at least $1 million or a yearly income of $200,000 or more. This left out more 90% of American investors. But because of a new SEC regulation called Regulation Crowdfunding, ordinary investors now have the opportunity of investing in private companies. Though with opportunity comes risk, which is where CrowdProtector comes into play, helping to alleviate much of this risk. Currently, AXA XL is the second largest insurance company in all of Europe. They also provide both reinsurance services and risk management to customers across the world. Last year, the company earned a net profit of $2.42 billion (2.14 billion euro). Though this represented a decline of 66% from a year earlier. However, during the same period, the company's revenue grew by 3%, and their dividend rose 6% to $1.52 (1.34 euro) per share. In 2015, AXA XL announced their intention to make remittances in Bitcoin, so to streamline international payments. The company indicated at the time that they felt many valuable use cases for the currency had yet to be explored.