Meanwhile, a startup offers life insurance and annuities called Bitcoin (BTC), collected $ 40 million in the Financing Round of Serie A, said the Zac Towsend CEO on Thursday in an X X.
The investment was directed by the venture capital companies and Fulgur Ventures, and Wences Casares de Bitcoin-Advocate also participated.
Traditional life insurance pays in fiduciary currencies. Meanwhile, this model turns, maintaining premiums and benefits in Bitcoin, with the aim of helping insured to protect themselves against inflation and currency devaluation. In countries where local currencies lose value, possession of policies in BTC could help preserve purchasing power for future payments. However, policy holders also assume the volatility of Bitcoin prices.
The firm plans to use funds to accelerate its global deployment, directing regions where inflation and currency instability are daily concerns, Towsend said. Meanwhile, it did not reveal its current assessment or specific market input plans in the ad.
“This round gives us significant capital to boost our trip to build the largest long -term savings and insurance company in the world,” Towsend said.
The investment remains in an anterior round of $ 20 million of a variety of investors, including Sam Altman, CEO of the OpenAi artificial intelligence firm, together with the fund gradient companies focused on Google AI. The company secured a digital life insurance license in Bermuda last year.
