Meanwhile, the first regulated life insurance company that operates entirely in Bitcoin He said Tuesday that he has raised 82 million dollars to expand their savings and retirement products that aim to protect against inflation and currency devaluation.
The financing round was co -directed by Bain Capital Crypto and Haun Ventures, with the participation of Panther Capital, Apollo, Northwestern Mutual Future Ventures and Stillmark, as shared by the company in a press release with Coindesk. The increase occurs after a round of 40 million dollars in April led by Fulgur Ventures and Framework, while Openai executive director Sam Altman was one of the first investors.
Founded in Bermuda, meanwhile offers life insurance and annuities called BTC, allowing the insured to save and transfer wealth into an asset with a fixed offer. The service aims to protect customers against inflation and the devaluation of the currency over time, but the insured also assume the volatility of the price of Bitcoin. Its products are regulated by the monetary authority of Bermuda and designed to reflect the long -term traditional financial tools, but in BTC.
The company obtains yields from Bitcoins retained through long -term loans to private credit markets, which helps them fulfill its claims obligations and maintain solvency standards similar to those of traditional insurers.
“Life insurers have always provided the stable capital and long term maintained by the financial markets in motion,” Zac Towsend, executive director of the meantime, said in a statement. “We are contributing that same function to Bitcoin: to help families save and protect their wealth in BTC, at the same time that we offer institutions new ways of obtaining yields and launching indexed products to Bitcoin that meet the rules and are easy to climb.”
Meanwhile, the firm’s approach has found acceptance between both individuals and between institutions, which underlines an increase in the interest of customers looking for alternatives to salaries and treasury products based on dollars, the firm said. The company said that its Bitcoin assets under administration have grown more than 200% this year, exceeding 34% of Bitcoin so far this year until reaching record levels.
“In Haun Ventures, our thesis is that Bitcoin’s economy needs more than commercial and DAT platforms: he needs the basic components of capital markets,” said Chris Ahn, a partner of Haun Ventures, in a statement. “Just as the American economy was built on the basis of insurance, pensions and mortgages, the Bitcoin economy will require its own long -term financial products.”
The firm said that the new capital will be used to associate with traditional insurers, grow internationally and develop new retirement tools linked to Bitcoin that comply with regulatory standards.
