Meanwhile, a Bermuda-based life insurer that says it operates entirely in Bitcoin has raised $37.5 million from existing investors, as demand grows for policies designed to help wealthy families preserve and transfer cryptocurrency.
Funding and backing
The financing was led by Bain Capital Crypto and included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital, according to Decrypt. The latest round takes Meanwhile’s total funding above $180 million.
The company is also backed by OpenAI chief executive Sam Altman. It has been licensed in Bermuda since 2024, after spending two years in the Bermuda Monetary Authority’s regulatory sandbox.
Meanwhile describes itself as the first life insurer licensed to operate entirely in Bitcoin. Its balance sheet, reserves and audited financial statements are denominated in the cryptocurrency, while policyholders’ Bitcoin is held with regulated institutional custodians.
How the policies work
The new funding follows what Meanwhile called a record year, driven by international demand for its BTC Life 1-Pay product. Launched in early 2026, the policy is a single-premium whole-life product for high-net-worth customers outside the United States.
A policyholder pays one premium in Bitcoin and receives a guaranteed death benefit in Bitcoin for life. The policy’s value also grows in Bitcoin. After the first year, the owner can borrow as much as 90% of the policy’s value, with no repayment schedule or margin calls, according to the company.
BTC Life 1-Pay is Meanwhile’s second product. Its earlier offering uses 10 payments and was designed for American taxpayers. The company said it has signed 15 brokers since launching the international product, including brokers in Singapore, Hong Kong, the United Arab Emirates and Switzerland. Meanwhile also said its net long-term underwriting income has already exceeded the total recorded last year.
Why the model matters
Traditional life insurance generally uses conventional currencies and financial assets to calculate premiums, reserves and benefits. Meanwhile is instead structuring the entire insurance operation around Bitcoin, allowing clients who already hold the cryptocurrency to use it in a regulated life-insurance arrangement.
The company’s chief executive and co-founder, Zac Townsend, said wealthy families already hold Bitcoin but have lacked a regulated method for passing it on. The model therefore targets both insurance planning and the transfer of digital-asset wealth, although its value remains tied to Bitcoin’s price and the terms of each policy.
The fundraising comes as insurers explore ways to include Bitcoin in longer-term financial products. Last year, Delaware Life partnered with BlackRock to offer Bitcoin exposure through a fixed indexed annuity. That development, alongside Meanwhile’s Bitcoin-denominated policies, shows how the cryptocurrency is being incorporated into products traditionally associated with retirement, savings and estate planning.
Bitcoin market picture
Moneyiar market data at 11:44 a.m. on October 11, 2026, showed Bitcoin at $82,974.40162729, up 0.2% over 24 hours but down 2.68% over seven days. The figures illustrate the market movement that can affect Bitcoin-denominated policies, even though the article does not provide a forecast for the cryptocurrency or Meanwhile’s business.
