Bitcoin could offer captive insurers a valuable tool to preserve the value of reserves in high-inflation environments, according to Meanwhile co-founder and CEO Zac Townsend, following the firm's US$40 million Series A funding round.
Meanwhile secured the investment in a round led by Framework Ventures and Fulgur Ventures, with participation from Xapo founder Wences Casares. It builds on US$20.5 million in earlier seed funding backed by OpenAI’s Sam Altman and Mouro Capital.
Licensed and regulated by the Bermuda Monetary Authority, Meanwhile is currently the only insurer authorised to denominate and report its financials in bitcoin. It meets global solvency standards equivalent to Europe’s Solvency II.
The company says that Meanwhile’s flagship product is a whole life insurance policy entirely in bitcoin, offering guaranteed payouts, tax-free loans, and partial withdrawals — all designed to preserve value across generations.
According to Townsend, the same principles could apply to captives seeking to hedge against inflation, diversify reserves, or develop crypto-focused coverage.
“Digital assets open up new product opportunities for captives — especially those serving crypto businesses or operating across borders,” he notes.
Michael Anderson, co-founder of Framework Ventures, says the appeal of Bitcoin-based insurance lies in its relevance to people who lack confidence in local currencies: “For them, bitcoin-based insurance could be a total game-changer.”
Oleg Mikhalsky of Fulgur Ventures adds that Meanwhile combines regulated insurance with the long-term potential of Bitcoin, serving a growing demographic of crypto-native policyholders.
The company plans to use the new capital to expand internationally, grow its product suite, and strengthen institutional investment capabilities.
Townsend says that bitcoin's borderless nature could streamline international operations for captive insurers managing global risks, potentially reducing currency conversion costs and transfer delays.
