Meanwhile, the first life insurer licensed to operate entirely in Bitcoin, has raised $37.5 million in new funding led by Bain Capital Crypto, according to the company’s announcement . The Bermuda-based insurer, which counts Sam Altman among its backers, said the round takes its total funding past $180 million as demand for Bitcoin-denominated life insurance grows among wealthy families outside the United States.
The round was led by Bain Capital Crypto, with participation from existing investors Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. It follows a surge in international demand for the firm’s policies, particularly across Asia, Europe and the Middle East amid broader macro instability.
What the New Capital Backs
Meanwhile plans to direct the funding toward its BTC Life 1-Pay policy, a single-premium whole life product built for high-net-worth clients outside the US that launched in early 2026. It is the company’s second product line after BTC 10-Pay, which is designed for US taxpayers. Since launch, Meanwhile has signed 15 brokers serving wealthy families, including in the insurance hubs of Singapore, Hong Kong, the UAE and Switzerland, with partners such as Lioner and Apeiron Group.
How Bitcoin Life Insurance Works
A client pays one premium in Bitcoin and receives a guaranteed death benefit in Bitcoin for life. The policy’s value grows in Bitcoin, and after the first year the owner can borrow up to 90% of it with no repayment schedule and no margin calls. Policies can be owned by individuals, trusts or companies, making them a fit for estate planning as institutional adoption of Bitcoin broadens.
Meanwhile’s balance sheet, reserves and audited financial statements are all denominated in Bitcoin, and all policyholder Bitcoin is held with regulated institutional custodians. “Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on,” said Zac Townsend, co-founder and chief executive of Meanwhile.
What Happens Next
The company said net long-term underwriting income has already passed last year’s total and is on track to more than double in 2026. Meanwhile Insurance Bitcoin (Bermuda) Limited holds the first Class IILT license granted by the Bermuda Monetary Authority, received in July 2024 after two years in the regulator’s sandbox. “Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup,” said Stefan Cohen, a partner at Bain Capital Crypto. The raise also lands as institutional capital keeps flowing into Bitcoin products, from spot Bitcoin ETF inflows to new tokenized offerings.
