Sam Altman-backed bitcoin insurer Meanwhile secures $37.5 million in Bain Capital Crypto-led round

Meanwhile, a life insurer focused on bitcoin $BTC$82 589,87 and backed by OpenAI founder and CEO Sam Altman, raised $37.5 million as it expands outside the U.S.

The funding round was led by existing investor Bain Capital Crypto, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo and others. The Bermuda-based company has now raised a total of $180 million, according to an emailed announcement on Thursday.

Meanwhile, which raised $82 million one year ago, offers life insurance policies with premiums and death benefits denominated in bitcoin rather than traditional currencies. The approach reflects efforts to build the largest cryptocurrency into traditional wealth management products, extending its use beyond investment and trading and into inheritance and insurance.

Its $BTC Life 1-Pay product, introduced earlier this year, allows customers to pay a single bitcoin premium in exchange for a guaranteed $BTC-denominated death benefit.

Meanwhile, which received a Bermuda Monetary Authority insurance license in 2024, has signed 15 brokers serving high-net-worth clients across markets such as Switzerland, Singapore, Hong Kong and the UAE, according to the announcement.