Bitcoin Life Insurer Meanwhile Raises $82M to Scale Savings, Retirement in BTC

Meanwhile, the first regulated life insurance company that operates entirely in bitcoin (BTC), said on Tuesday it has raised $82 million to scale its savings and retirement products that aim to protect against inflation and currency ￰0￱ funding round was co-led by Bain Capital Crypto and Haun Ventures, with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Stillmark, the firm shared in a press release with ￰1￱ raise follows a $40 million round in April led by Fulgur Ventures and Framework, while OpenAI CEO Sam Altman was an early ￰2￱ in Bermuda, Meanwhile offers life insurance and annuity products denominated in BTC, allowing policyholders to save and transfer wealth in an asset with a fixed ￰3￱ service aims to guard customers against inflation and currency devaluation over time, but policyholders also take on bitcoin’s price ￰4￱ products are regulated by the Bermuda Monetary Authority and designed to mirror traditional long-term financial tools, but in ￰5￱ company earns returns on held bitcoin through long-term lending to private credit markets, helping it meet claims obligations and maintain solvency standards similar to legacy insurers.

"Life insurers have always provided the steady, long-term capital that keeps financial markets moving," Zac Townsend, CEO of Meanwhile, said in a statement. "We’re bringing that same role to Bitcoin — helping families save and protect wealth in BTC, while giving institutions new ways to earn returns and launch bitcoin-indexed products that are compliant and easy to scale." Meanwhile’s approach has found traction among both individuals and institutions, underscoring a surge in interest from customers seeking alternatives to dollar-based insurance and treasury products, the firm ￰6￱ company said its bitcoin assets under management has grown over 200% this year, outpacing bitcoin's 34% year-to date run to record highs.

"At Haun Ventures, our thesis is that the Bitcoin economy needs more than trading platforms and DATs — it needs the core building blocks of capital markets," said Chris Ahn, partner at Haun Ventures, in a statement. "Just as the ￰7￱ was built on insurance, pensions, and mortgages, the Bitcoin economy will require its own long-duration financial products." The firm said the new capital will be used to partner with traditional insurers, grow internationally and develop new bitcoin-linked retirement tools that meet regulatory standards.