Anthea Raises $22M to Launch Ethereum-Denominated Life Insurance
- Anthea, a Bermuda-based crypto life insurer, raised $22 million in Series A funding led by Yunfeng Financial Group.
- The funds will be used to develop the world's first life insurance product denominated in Ethereum tokens (ETH).
- Anthea aims to merge life insurance with blockchain technology, expanding its presence in Asia and supporting ongoing operations.
- Recently received approval from the Bermuda Monetary Authority to offer insurance in digital assets.
- Policy structure is similar to traditional life insurance but uses cryptocurrency for premiums, claims, and payouts.
- Targets crypto investors seeking protection without converting holdings to fiat currency.
- Plans to integrate blockchain payment systems and explore yield generation from crypto reserves.
- CEO Alex Pei emphasizes the strategic partnership with investors sharing Anthea's vision.
