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When Zac Townsend and Max Gasner began talking about a new venture in late 2021, the cryptocurrency world was already a hotbed of innovation. Exchanges, payment networks, and digital wallets were evolving quickly—but one foundational pillar of financial services remained untouched: life insurance. It was in that gap that the co-founders saw an opportunity. What if they could adapt one of the oldest and most trusted financial products for the Bitcoin economy?
Today, their company—Meanwhile (Hamilton, Bermuda), the world’s first fully licensed and regulated Bitcoin-denominated life insurer—is launching new products, expanding globally, and aiming to reshape how Bitcoin holders protect and transfer wealth across generations.
Zac Townsend, Co-Founder and CEO, Meanwhile.
“Our mission is to bring fundamental financial services—like life insurance and annuities—to this new economy,” says Townsend, CEO and co-founder of Meanwhile. “We want people to live fulfilling lives, free from financial burden. Meanwhile, we’re here to have their back.”
Bitcoin, Life Insurance, and a New Financial Paradigm
The concept took nearly two years to bring to market. The company spent the first year securing a preliminary license through Bermuda’s Innovation Sandbox, then another year building the infrastructure, designing its first product, and working closely with regulators and advisors to ensure compliance. The result: a fully Bitcoin-denominated whole life insurance policy, with premiums and payouts in BTC.
BTC Whole Life works much like a traditional policy—it offers guaranteed benefits, access to liquidity via tax-free loans and partial withdrawals, and the security of long-term financial protection. But it’s designed specifically for Bitcoin holders who want to hold, grow, and pass on their BTC wealth in a tax-advantaged structure.
“We’re not here to sell anyone on Bitcoin,” Townsend says. “But if you already believe in it as an asset, our product is a better, more efficient way to hold and use it over time.”
The name “Meanwhile” underscores the company’s mission: to let policyholders live their lives freely, knowing their financial legacy is secure. “We want people to live their most fulfilling lives,” Townsend adds. “Meanwhile, we’re here to handle the long-term protection.”
Max Gasner, Co-Founder and CTO, Meanwhile.
Licensed, Regulated—and Fully in Bitcoin
Meanwhile is formally based in Bermuda and licensed by the Bermuda Monetary Authority (BMA), one of the world’s premier insurance regulatory bodies. They graduated from the BMA’s Innovation Sandbox in the middle of last year, receiving a full commercial license. The company complies with capital reserve and solvency standards aligned with Europe’s Solvency II framework. But unlike traditional carriers, all of Meanwhile’s operations, financials, and policy values are denominated entirely in Bitcoin.
“Just like a dollar-based insurer doesn’t worry about the dollar-euro exchange rate, we don’t worry about BTC-USD,” says Townsend. “Everything is calculated in Bitcoin.”
The firm sees itself as a legitimate insurance company, not a crypto experiment. “We’re held to the same standards as any other long-term insurer in Bermuda,” Townsend says. “That regulatory rigor is critical, especially given skepticism in the wake of bad actors like FTX.”
Fueling Growth with Strategic Backing
To date, Meanwhile has raised approximately $61 million. Its latest $40 million Series A round was co-led by Framework Ventures and Fulgur Ventures, with participation from Wences Casares, founder of Xapo. Earlier funding rounds were co-led by Sam Altman (OpenAI) and Lachy Groom, an early Stripe employee.
“A BTC-based insurance product could be a total game-changer,” says Michael Anderson, Co-Founder, Framework Ventures. “The potential addressable market here is enormous.”
Townsend agrees, noting that Bitcoin-based life insurance could serve users worldwide—particularly in regions where inflation and currency volatility undermine traditional wealth preservation.
“Crypto is a borderless economy, and Bitcoin is its global currency and store of value,” he says. “We’re building tools for that economy.”
Global Vision, Direct Model
Meanwhile currently sells policies directly through its website, https://meanwhile.bm, and offers personalized consultations for prospective policyholders. While the BTC Whole Life policy is available in the U.S. and Canada, the company plans to expand into new markets over the next year and launch new insurance products that align with its Bitcoin-first philosophy.
Looking ahead, the company has no immediate competition in the fully regulated, Bitcoin-denominated insurance space—but it welcomes others to follow.
“Our ambition is to serve a billion people,” Townsend says. “We’ll get there by combining the strengths of Bitcoin—durability, scarcity, decentralization—with the reach of digital distribution and the efficiency of AI. This is just the beginning.”
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