Meanwhile, the first life insurer licensed to operate entirely in Bitcoin, has raised $37.5 million in new funding from its existing investors, the company announced.

The model marks a departure from industry convention: life insurance is one of the most heavily regulated corners of finance, and policies are almost universally denominated in government-issued currencies rather than a digital asset.

Bain Capital Crypto led the round, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. The raise brings Meanwhile's total funding to more than $180 million. Sam Altman is also among the company's backers.

The company said the round follows a surge in demand for its Bitcoin life insurance policies outside the US, particularly in Asia, Europe and the Middle East, amid broader macroeconomic instability.

A regulated way to pass on Bitcoin

"Wealthy families around the world already hold Bitcoin. What they haven't had is a regulated way to pass it on," Zac Townsend, Meanwhile's co-founder and CEO, said in a statement. "Brokers came to us because their clients kept asking. This round lets us keep up with them."

Whole life insurance has long been a fixture of estate planning, and single-premium versions of the product — funded with one upfront payment — are an established tool for transferring wealth between generations. In early 2026, Meanwhile launched $BTC Life 1-Pay, a single-premium whole life policy aimed at high-net-worth clients outside the US. It is the company's second product line, following $BTC 10-Pay, which is designed for US taxpayers.

Under $BTC Life 1-Pay, 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, which the company says makes them suited to succession and estate planning.

Since launch, Meanwhile has signed 15 brokers serving wealthy families, including in Singapore, Hong Kong, the UAE and Switzerland. Partners include Lioner, an insurance, trust and family office group with offices in Hong Kong, Singapore and Zurich, and Apeiron Group, a marketplace for high-net-worth life insurance.

"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," said Justin Man, CEO of Apeiron Group.

Underwriting income on pace to more than double

Meanwhile said its net long-term underwriting income has already passed last year's total and is on track to more than double in 2026. The company did not disclose specific figures.

"Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup," said Stefan Cohen, partner at Bain Capital Crypto. "The growth this year proves the model, and we're glad to back them again."

Bermuda license and a Bitcoin-denominated balance sheet

The company's operating entity, Meanwhile Insurance Bitcoin (Bermuda) Limited, holds the first Class IILT license granted by the Bermuda Monetary Authority — a license class the regulator created for insurers whose liabilities are denominated in digital assets. It the license in July 2024 after two years in the regulator's sandbox.

Bermuda has long ranked among the world's leading offshore insurance domiciles, giving the Bitcoin-native insurance model a base in an established regulatory jurisdiction.

The insurer's balance sheet, reserves and audited financial statements are all denominated in Bitcoin, and policyholder Bitcoin is held with regulated institutional custodians.

This article first appeared on Bitcoin Magazine and was written by Mathew Di Salvo.