SAN FRANCISCO, CALIFORNIA — April 10, 2025 — Meanwhile, the world's first fully Bitcoin-denominated insurer, today announced the completion of a $40 million Series A funding round. The investment was co-led by crypto-native venture capital firm Framework Ventures and Bitcoin-focused Fulgur Ventures, with participation from renowned investor and Xapo founder Wences Casares. The Series A raise follows Meanwhile's prior $20.5 million total in seed funding — with a first tranche co-led by Sam Altman, CEO of OpenAI, and Lachy Groom, an early employee at payments giant Stripe, and a second tranche led by Mouro Capital.

Meanwhile's innovative "BTC Whole Life Insurance" product combines the security and predictable benefits of traditional life insurance with Bitcoin – a scarce, inflation-resistant asset built to preserve long term value. Meanwhile's approach to life insurance provides policyholders worldwide with a powerful tool for long-term financial planning, inflation hedging, and secure, tax-advantaged wealth transfer across generations.

As the first government-regulated insurer fully denominated in BTC, Meanwhile combines conservative, Bitcoin-denominated institutional investments with guaranteed insurance payouts. These benefits empower people living in inflation-prone economies with a powerful tool for preserving wealth, planning for the future, and building a lasting legacy. Meanwhile also offers holders the ability to access the value of their policy whenever needed through the ability to tap into the policy's liquidity with tax-free, low-interest loans and tax-free partial withdrawals.

"Crypto is a borderless economy, and Bitcoin is its global currency and store of value," said Zac Townsend, co-founder and CEO of Meanwhile. "Our mission is to bring fundamental financial services—like life insurance and annuities—to this new economy. People living in regions experiencing high inflation or currency instability can significantly benefit from insurance policies that preserve their wealth and purchasing power. Even in the United States, the dollar has lost about 25% of its value over the past five years, highlighting the universal need for inflation-proof financial products."

"Our thesis around Meanwhile is pretty simple," said Michael Anderson, Co-Founder of Framework Ventures. "On the one hand, we believe existing Bitcoiners will be drawn to Meanwhile's products because they already prefer BTC to fiat-based financial services. At the same time, there's a huge opportunity here to reach hundreds of millions of people living in inflation-prone economies—many of whom shy away from life insurance because they don't trust their local currencies to last. For them, a BTC-based insurance product could be a total game-changer. The potential addressable market here is enormous."

Meanwhile, which is licensed and regulated by the Bermuda Monetary Authority (BMA), meets rigorous global standards equivalent to Europe's Solvency II requirements. It is currently the only insurer specifically authorized to denominate and report financials in Bitcoin, enhancing transparency and trust.

"One of our core theses is the convergence between Bitcoin and institutional financial markets. Meanwhile stands apart as the world's only, fully regulated, entirely Bitcoin-denominated insurance provider," said Oleg Mikhalsky, Partner at Fulgur Ventures. "By combining innovative insurance product design with Bitcoin as the underlying asset, Meanwhile delivers a valuable and globally accessible service tailored specifically to Bitcoin holders, addressing their distinct financial needs across generations. Meanwhile is here to stay."

Bermuda's Premier, David Burt, added, "The Government of Bermuda is proud that our island continues to be a jurisdiction of choice for companies shaping the future of financial services. The robust regulatory environment provided through the Bermuda Monetary Authority supports responsible innovation and underscores Bermuda's leadership in both long-term insurance and digital finance, as we continue to strengthen our reputation as a trusted hub for high-quality institutions."

Under the leadership of Townsend and Max Gasner, CTO and co-founder, Meanwhile has leveraged advanced automation and technology to establish a fully operational insurance infrastructure, including underwriting, policy management, and compliance systems. The Series A capital will support geographical expansion, diversification of product lines, and enhanced institutional investment capabilities.

About Meanwhile

Meanwhile's BTC Whole Life Insurance benefits to customers:

• Insurance policies entirely denominated in Bitcoin, safeguarding long-term value against inflation and currency depreciation
• Seamlessly integrates Bitcoin's appreciation potential with traditional life insurance stability
• Secure and tax-advantaged savings and intergenerational wealth transfer through innovative, regulated financial products
• Guaranteed insurance payouts and conservative Bitcoin-denominated institutional investments

Confident that BTC is on pace to become a global store of value and functional currency, the company's licensed and regulated Bermuda subsidiary is entirely denominated in BTC, accepting all premiums and paying out all claims in BTC. To learn more, visit http://meanwhile.bm.

About Framework Ventures

Framework Ventures is a prominent VC firm in the crypto industry, known for its early investments in several multi-billion dollar protocols across the DeFi and Web3 gaming industries. In 2022, the firm raised $400M for its third fund and has since significantly expanded into additional maturing verticals like Web3 gaming, real-world assets, and social crypto. To learn more, visit https://framework.ventures.

About Fulgur Ventures

Fulgur Ventures is a dedicated investment firm focused on the Bitcoin and Lightning Network ecosystems. It provides early-stage, follow-on, and growth capital to visionary companies driving Bitcoin adoption and advancing Bitcoin scaling technologies. To learn more, visit https://fulgur.ventures.