According to the press release, Meanwhile is the "only" insurance firm that offers fully cryptocurrency-denominated products.
The funding will allow the company to obtain a license from the Bermuda regulator, as well as expand the team and launch its first service, life insurance backed by the first cryptocurrency.
“Bitcoin is becoming a global store of value and functional currency. […] When combined with artificial intelligence, we see the potential to create a full-stack life insurance company that aims to reach more than a billion people worldwide,” said Meanwhile CEO Zac Townsend.
Using the latest blockchain and AI technologies, the company is planning to create a “comprehensive insurance system that reduces manual labor and promotes transparency.”
Photos are from open sources.