Summary
- A life insurance company known as Meanwhile, which claims to be the first fully Bitcoin-operating insurer, has successfully raised $37.5 million from previous investors led by Bain Capital Crypto, increasing its total funding to over $180 million.
- This funding round follows a record year, largely driven by its BTC Life 1-Pay single-premium policy targeting affluent clients internationally.
- Meanwhile, which has been operating in Bermuda since 2024, counts Sam Altman among its notable backers.
The Bermuda-based life insurance firm, Meanwhile, has announced it raised $37.5 million as interest in its unique Bitcoin-based policies grows among wealthy families abroad.
The company disclosed on Thursday that this funding round was led by Bain Capital Crypto, with contributions from several other investors including Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital.
Meanwhile, which is also supported by OpenAI's CEO Sam Altman, has now accumulated over $180 million in total funding.
This insurer positions itself as the first life insurance provider licensed to operate exclusively in Bitcoin. Its financial operations—including its balance sheet and reserves—are entirely denominated in the cryptocurrency. It received its unique license from the Bermuda Monetary Authority in July 2024 after two years in the regulator’s sandbox and stores all policyholder Bitcoin with regulated institutional custodians.
The recent funding follows what Meanwhile describes as a record year, fueled by international demand. In early 2026, the company introduced the BTC Life 1-Pay, a single-premium whole life insurance policy designed for high-net-worth clients outside the United States, marking its second offering after creating a 10-payment version for American clients.
Under the single-premium policy, clients make a one-time payment in Bitcoin and secure a lifelong guaranteed death benefit also in Bitcoin. The policy's value appreciates with Bitcoin, and owners can borrow up to 90% of it after the first year without a repayment schedule or margin calls.
Since its launch, Meanwhile has signed on 15 brokers, including those located in key insurance markets like Singapore, Hong Kong, the UAE, and Switzerland, and its net long-term underwriting income has already exceeded last year's figures.
“Wealthy families globally already possess Bitcoin. What they have lacked is a regulated mechanism to transfer it,” stated Zac Townsend, co-founder and CEO of Meanwhile.
This funding round underscores a growing trend to integrate Bitcoin into conventional financial products. For instance, Delaware Life partnered with BlackRock last year to provide Bitcoin exposure through a fixed indexed annuity, indicating that insurers are increasingly interested in combining this volatile asset with long-term financial planning tools.