Bitcoin Life Insurance Firm Meanwhile Raises $40M to Expand Globally

Startup Offering Bitcoin-Denominated Life Insurance Raises $40 Million in Series A Funding

A startup that offers life insurance and annuities denominated in bitcoin (BTC) has recently raised $40 million in a series A funding round. The CEO of the company, Zac Townsend, made the announcement in a post on X.

Leading the investment round were venture capital firms Framework and Fulgur Ventures, with early Bitcoin advocate Wences Casares also participating in the funding. Traditional life insurance policies typically pay out in fiat currencies. In contrast, this startup, called Meanwhile, flips this model by keeping premiums and benefits in bitcoin. The goal is to help policyholders guard against inflation and currency devaluation.

In countries where local currencies are prone to losing value, holding insurance policies denominated in BTC could help preserve purchasing power for future payouts. However, it’s important to note that policyholders also take on the risk of bitcoin’s price volatility.

The startup plans to use the newly raised funds to accelerate its global rollout, with a focus on regions where inflation and currency instability are significant concerns. Townsend mentioned that Meanwhile did not disclose its current valuation or specific market entry plans in the announcement.

“This round gives us significant capital to power our journey of building the world’s largest long-term insurance and savings company,” said Townsend in a statement.

This latest investment follows a previous $20 million funding round from a variety of investors, including Sam Altman, CEO of artificial intelligence firm OpenAI, and Google’s AI-focused fund Gradient Ventures. Meanwhile, the company secured a digital life insurer license in Bermuda last year.

Overall, the funding round underscores growing interest in using bitcoin as a medium for insurance and savings products. With the backing of prominent investors and a unique approach to insurance, Meanwhile is poised to make a significant impact in the industry. Could’ve sworn the page was around here somewhere…

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Overall, blockchain technology has the potential to revolutionize a wide range of industries and bring about positive change. As more businesses and organizations begin to adopt blockchain technology, we can expect to see even greater advancements in the way we conduct business and interact with one another. With its secure and transparent nature, blockchain is poised to become a key technology in the digital age. Title: The Benefits of Incorporating Mindfulness Practices into Your Daily Routine

In today’s fast-paced world, it’s easy to become overwhelmed with the constant demands and distractions that come our way. From work deadlines to social obligations, it can feel like there’s never enough time in the day to take a moment for ourselves. However, incorporating mindfulness practices into your daily routine can have a multitude of benefits for both your mental and physical well-being.

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