Crypto startup Meanwhile has raised $40 million to scale its Bitcoin-denominated life insurance business.
Regulated by the Bermuda Monetary Authority, Meanwhile offers a whole life insurance policy denominated in Bitcoin, allowing policyholders to safeguard the value of their life insurance against currency debasement.
The company's policies target clients in inflation-prone economies and provide the option to access the value of their life insurance through loans and tax-free partial withdrawals.
While the inflation-hedging abilities of Bitcoin are subject to debate, the asset has outperformed inflation since its inception.