Bitcoin Life Insurer Meanwhile Raises $82M to Expand BTC Products
Meanwhile, the first regulated life insurance company fully operating in bitcoin, raised $82 million to enhance its savings and retirement products aimed at protecting against inflation and currency devaluation.
The funding round was co-led by Bain Capital Crypto and Haun Ventures, with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark.
Previously, the company raised $40 million in April, led by Fulgur Ventures and Framework, with OpenAI CEO Sam Altman as an early investor.
Founded in Bermuda, Meanwhile offers life insurance and annuity products denominated in BTC, regulated by the Bermuda Monetary Authority.
The company generates returns on held bitcoin through long-term lending to private credit markets, maintaining solvency standards akin to traditional insurers.
CEO Zac Townsend emphasized the role of life insurers in providing steady, long-term capital and aims to replicate this for Bitcoin.
There is increasing interest from customers seeking alternatives to dollar-based insurance, with the company's bitcoin assets under management growing over 200% this year.
The new capital will be used for partnerships with traditional insurers, international expansion, and developing bitcoin-linked retirement tools compliant with regulatory standards.
