Meanwhile, a Bermuda-regulated insurer built around Bitcoin, has raised $37.5 million from existing investors as it expands life insurance products aimed at wealthy families holding digital assets.
Bain Capital Crypto led the financing, which also included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. The latest round takes Meanwhile’s total funding above $180 million. Sam Altman is also among the company’s backers, according to Bitcoin Magazine.
The company said demand has increased for its Bitcoin-denominated life insurance outside the United States, with particular interest coming from Asia, Europe and the Middle East. It linked that demand to broader macroeconomic instability, while positioning the products as tools for families seeking to organize the transfer of Bitcoin across generations.
A life insurance model denominated in Bitcoin
Meanwhile’s operating company, Meanwhile Insurance Bitcoin (Bermuda) Limited, holds the first Class IILT license issued by the Bermuda Monetary Authority. The license was granted in July 2024 after the business spent two years in the regulator’s sandbox.
Unlike conventional life insurance, whose premiums, reserves and benefits are generally denominated in government-issued currencies, Meanwhile says its balance sheet, reserves and audited financial statements are all denominated in Bitcoin. Policyholder Bitcoin is held by regulated institutional custodians.
The company’s latest product, BTC Life 1-Pay, was introduced in early 2026. It is a single-premium whole life policy intended for high-net-worth customers outside the US. 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. The company says those loans have no repayment schedule and do not involve margin calls. Policies may be owned by individuals, trusts or companies, a structure Meanwhile says supports succession and estate planning.
The product is the insurer’s second line. Its earlier BTC 10-Pay policy is designed for US taxpayers and requires payments over time, while BTC Life 1-Pay uses a single upfront premium for clients outside the United States.
Brokers and family wealth transfer
Meanwhile said it has signed 15 brokers serving wealthy families since the launch of BTC Life 1-Pay. Those brokers include firms working with clients in Singapore, Hong Kong, the United Arab Emirates and Switzerland.
Among its partners are Lioner, an insurance, trust and family-office group with offices in Hong Kong, Singapore and Zurich, and Apeiron Group, a marketplace for high-net-worth life insurance.
The company’s chief executive and co-founder, Zac Townsend, said wealthy families already own Bitcoin but have lacked what he described as a regulated way to pass it on. He said brokers approached Meanwhile after clients began asking about inheritance and succession arrangements involving Bitcoin.
Justin Man, chief executive of Apeiron Group, said demand from high-net-worth clients is moving beyond questions about holding Bitcoin and digital assets. He said those clients are increasingly asking how to plan around the assets and transfer them to the next generation.
Meanwhile reported that its net long-term underwriting income has already exceeded the total recorded last year and is on track to more than double in 2026. The insurer did not provide specific income figures.
The funding round is intended to help the company respond to demand, while Bain Capital Crypto partner Stefan Cohen described Meanwhile as a regulated life insurer built with an AI-enabled startup approach. The company did not disclose how the new capital would be allocated.
Bitcoin market picture
Moneyiar market data at 11:59 a.m. on October 11, 2026, showed Bitcoin at $83,083.394908608, up 0.32% over 24 hours but down 2.6% over seven days.
Other tracked digital assets showed mixed performance:
- Cap was priced at $0.0934388928, up 6.71% over 24 hours and 39.75% over seven days, based on Moneyiar data at 11:58 a.m.
- Aethir stood at $0.0064586227, down 0.5% over 24 hours and 16.05% over seven days, according to Moneyiar data at 11:58 a.m.
- Altlayer was at $0.0079475691, down 0.12% over 24 hours and 1.21% over seven days, based on Moneyiar data at 11:59 a.m.
The market figures provide context for the environment in which Bitcoin-focused financial products are being developed, but they do not indicate how any individual insurance policy will perform. Meanwhile’s model is centered on benefits, reserves and accounting denominated in Bitcoin, meaning policyholders and the insurer remain exposed to the value movements of the cryptocurrency.
