Bitcoin-denominated life insurer Meanwhile announced a $37.5 million funding round led by Bain Capital Crypto on October 8. The capital injection brings the company's total funding above $180 million, with participation from existing backers including Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital.
The funding round follows increased international demand for bitcoin-denominated life insurance products, particularly across Europe, Asia, and the Middle East. Meanwhile launched BTC Life 1-Pay in early 2026, a product designed for high-net-worth clients outside the United States that allows policyholders to pay a single premium in bitcoin to lock in a guaranteed lifetime death benefit denominated in bitcoin.
The company has partnered with 15 international brokers to distribute the new product, including Lioner, which operates across Hong Kong, Singapore, and Zurich, and Apeiron Group.
Product Structure and Features
Under the BTC Life 1-Pay structure, policy values grow directly in bitcoin. After the first year, policyholders can borrow up to 90% of the policy's cash value with no repayment schedule and no margin call risk. Policies can be held by individuals, trusts, or corporate entities, supporting cross-border succession and estate planning.
The product complements Meanwhile's flagship offering, BTC 10-Pay, which was designed for U.S. taxpayers.
Regulatory Status and Financial Performance
Meanwhile operates as Meanwhile Insurance Bitcoin under a Class IILT license from the Bermuda Monetary Authority, granted in July 2024 following a two-year regulatory sandbox trial. The company maintains its balance sheet, reserve metrics, and audited financial statements entirely in bitcoin, with all policyholder reserves secured through institutional-grade, regulated crypto custodians.
The company reported that net long-term underwriting income in 2026 already exceeded full-year results from 2025 and is on track to more than double year-over-year.
