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BTC Meanwhile, a life insurance company with all-bitcoin operating model, raises US$37.5 million
As demand from wealthy overseas families for the company's unique policies rises, Meanwhile, a life insurance company operating entirely on Bitcoin, has successfully raised US$37.5 million. The Bermuda-based insurance company said on Thursday that the funding came from existing investors, led by Bain Capital Crypto, with participation from institutions such as Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital.
At the same time, the company's backers include OpenAI CEO Sam Ultraman, whose cumulative total financing now exceeds $180 million.
The company claims to be the world's first licensed life insurance company to operate entirely in Bitcoin, with its balance sheet, reserves and audited financial statements denominated in the cryptocurrency. The company stated that after two years of "sandbox" testing by regulators, it obtained the first such licenses issued by the Bermuda Monetary Authority in July 2024 and entrusted regulated institutional custodians to hold all policy holders. Bitcoin assets.
The financing follows what Meanwhile called a "record year" and is mainly driven by international market demand. In early 2026, the company launched the BTC Life 1-Pay product, a single-premium lifetime life insurance product for high-net-worth customers outside the United States. It is its second product; the first is a 10-installment payment version designed for U.S. taxpayers.
Under this single premium policy, customers can receive guaranteed death compensation denominated in Bitcoin for life by paying one time in Bitcoin. Policy values grow in bitcoin, and after the first year, policyholders can lend out up to 90% of the policy value without having to make a repayment plan or face margin call notices.
Meanwhile said that since its launch, it has signed up 15 brokers, covering insurance hubs such as Singapore, Hong Kong, United Arab Emirates and Switzerland, and its net long-term underwriting revenue has exceeded the total for the whole of last year.
Zac Townsend, co-founder and CEO of While, said: "Wealthy families around the world already own Bitcoin, but they have previously lacked a regulated way to pass on those assets."
This financing reflects a broader trend of integrating Bitcoin into traditional financial products. Last year, Delaware Life partnered with BlackRock to provide Bitcoin exposure through fixed index annuities, a sign that insurance companies are increasingly inclined to combine this volatile asset with long-term planning tools.
