Meanwhile raises $37.5 million as Bitcoin life insurance demand rises abroad

Meanwhile, a Bermuda-based life insurance company fully licensed to operate in Bitcoin, has secured $37.5 million in a fresh funding round led by Bain Capital Crypto. Other investors included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. Sam Altman is also among the notable backers. This latest capitalization brings Meanwhile’s total raised funds to over $180 million.

Rising demand from wealthy families

The company reported that demand for its Bitcoin-denominated life insurance products has been increasing outside the United States, especially in regions including Asia, Europe, and the Middle East. Meanwhile attributed this trend to growing macroeconomic uncertainty and an increased focus by high-net-worth individuals and families on succession planning for digital assets.

Zac Townsend, co-founder and CEO of Meanwhile, said that affluent families worldwide often already hold Bitcoin but have lacked regulated solutions for passing those assets on to future generations. Townsend explained, “Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on.”

We’re reaching a turning point where more high-net-worth clients are asking not just how to hold Bitcoin and digital assets, but how to plan around them and ultimately transfer that wealth to the next generation.

Expansion of product offerings

In early 2026, the insurer introduced BTC Life 1-Pay, a single-premium whole life policy intended for high-net-worth clients outside the US. This followed the rollout of BTC 10-Pay, a product targeted at US taxpayers. Under BTC Life 1-Pay, policyholders pay a one-time premium in Bitcoin and are guaranteed a death benefit in Bitcoin for life. The policy’s value accrues in BTC, and after the first year, owners can borrow up to 90% of the policy value with no set repayment schedule and no margin calls.

Both individuals and entities such as trusts and companies can own these policies, making them suitable for estate and succession planning needs.

Meanwhile has signed 15 brokerage partnerships since launch, with firms serving clients in Singapore, Hong Kong, the UAE, and Switzerland. Key partners include Lioner, a global insurance and trust group, and Apeiron Group, a marketplace focused on high-net-worth life insurance solutions.

Mini dictionary: BTC Life 1-Pay, a type of whole life insurance policy where a single Bitcoin premium is paid upfront, and both the policy’s value and death benefit are denominated in Bitcoin.

Business performance and regulatory standing

Meanwhile stated its net long-term underwriting income has already surpassed last year’s total and is projected to more than double in 2026, although specific financial figures were not disclosed. Stefan Cohen, partner at Bain Capital Crypto, commented that the company’s growth in 2026 has validated its business model.

Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup. The growth this year proves the model, and we’re glad to back them again.

The company operates through Meanwhile Insurance Bitcoin (Bermuda) Limited, which holds the first Class IILT license ever granted by the Bermuda Monetary Authority. The insurer received its license in July 2024, after spending two years in the regulatory sandbox.

Mini dictionary: Class IILT license, a Bermuda insurance regulatory permit enabling insurers to issue long-term insurance policies denominated in digital assets such as Bitcoin.

All of Meanwhile’s balance sheet, reserves, and audited financial statements are denominated in Bitcoin. The company emphasized that client assets are held with regulated institutional custodians to ensure safety and compliance.

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