Meanwhile, the first life insurer licensed to operate entirely in Bitcoin, has raised $37.5 million in a funding round led by Bain Capital Crypto. The financing takes the Bermuda-based company’s total funding above $180 million as demand for Bitcoin-denominated life insurance grows among wealthy families outside the United States. Meanwhile plans to use the capital to expand BTC Life 1-Pay, a single-premium whole life policy for high-net-worth clients outside the US that launched in early 2026. The company has also signed 15 brokers serving wealthy families in Singapore, Hong Kong, the UAE and Switzerland, including Lioner and Apeiron Group. Its policies accept a single Bitcoin premium, pay guaranteed death benefits in Bitcoin and allow owners to borrow up to 90% of the policy’s value after the first year without a repayment schedule or margin calls. Meanwhile Insurance Bitcoin (Bermuda) Limited received the first Class IILT license granted by the Bermuda Monetary Authority in July 2024 after two years in the regulator’s sandbox. The company said net long-term underwriting income has already exceeded last year’s total and is on track to more than double in 2026.