Meanwhile, a Bermuda-based life insurer specializing in bitcoin-denominated policies and backed by OpenAI chief executive Sam Altman, has closed a $37.5 million funding round led by Bain Capital Crypto. The investment lifts the company’s cumulative capital raised above $180 million and supports plans to broaden its reach among high-net-worth clients in Asia, Europe and the Middle East.

Existing backers joined the round, including Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. Bain Capital Crypto, which had previously co-led a larger financing, returned as the primary investor. Sam Altman participated in earlier rounds but was not listed among participants in the latest capital raise.

Funding History and Investor Support

Meanwhile raised $82 million in October 2025 in a round jointly led by Bain Capital Crypto and Haun Ventures. That followed a $40 million Series A completed in April 2025, when Framework Ventures and Fulgur Ventures provided capital for international growth. Combined with earlier seed funding, the new $37.5 million commitment pushes total capital raised past the $180 million mark.

Company co-founder and chief executive Zac Townsend said the financing responds to sustained inquiries from insurance brokers whose clients hold bitcoin and seek regulated mechanisms to transfer those holdings across generations.

Bain Capital Crypto partner Stefan Cohen cited the firm’s blend of conventional insurance operations and technology development, along with its 2026 performance, as reasons for the renewed commitment. The company has not disclosed a valuation or specific revenue figures associated with the round.

Bitcoin Holdings and Underwriting Growth

Audited results released in April 2026 showed Meanwhile held 1,183 bitcoin in total assets at the end of 2025, more than five times the amount reported a year earlier. Statutory capital and surplus stood at 759 bitcoin. The insurer’s balance sheet, reserves and financial statements are denominated entirely in bitcoin, with customer assets held at regulated institutional custodians.

Operational metrics have also advanced. Net long-term underwriting income recorded in 2026 has already exceeded the full-year total for 2025. Management expects that figure to more than double by year-end, subject to continued business performance.

Product Structure and Target Markets

Meanwhile’s flagship international offering, BTC Life 1-Pay, launched in early 2026 for non-U.S. clients. Policyholders pay a single premium in bitcoin and receive a guaranteed death benefit denominated in the same asset. After the first year, owners may borrow up to 90 percent of the policy’s value without a fixed repayment schedule or margin calls. Policies may be owned by individuals, trusts or companies and are structured for inheritance and wealth-transfer planning.

A separate product, BTC 10-Pay, is available to U.S. taxpayers and permits premiums to be paid over a ten-year period. Both products operate under a regulated insurance framework that receives premiums and settles benefits in bitcoin.

The company has signed distribution agreements with 15 brokers serving affluent clients in financial centers including Switzerland, Singapore, Hong Kong and the United Arab Emirates. Partners include Lioner, an insurance and family-office services provider active in Hong Kong, Singapore and Zurich, and Apeiron Group, a specialist marketplace for high-net-worth life insurance.

Lioner partner Giorgio Jeni noted that clients with cross-border interests are examining how digital assets fit into long-term wealth strategies, adding that transparency, governance and regulation remain central considerations as new solutions appear.

Regulatory Foundation in Bermuda

Meanwhile Insurance Bitcoin (Bermuda) Limited obtained a Class IILT long-term insurance license from the Bermuda Monetary Authority on July 25, 2024, after approximately two years in the regulator’s insurance innovation sandbox. The license authorizes the firm to conduct long-term insurance business with sophisticated persons under Bermuda’s framework. Product distribution remains subject to local rules and occurs only through appropriately licensed intermediaries where permitted.

The company has identified Singapore, Hong Kong, Switzerland and the UAE as priority markets supported by its new broker network. No additional regulatory licenses or expansion timelines for other jurisdictions have been announced.

Meanwhile continues to position its bitcoin-denominated policies as a regulated vehicle for families seeking to preserve and transfer digital-asset wealth across generations while operating under established insurance oversight.