Bermuda is known for its world-class insurance market, and now the island is fast becoming the market leader in the digital space. Meanwhile is a perfect example of Bermuda’s ingenuity where insurance and digital come together to create revolutionary products for consumers around the globe.

Appleby’s role as Bermuda legal counsel included licensing Meanwhile, drafting a private bill for the particulars of its operation, assisting with the drafting of the business plan, life policies and reviewing transaction documentation in connection with the registration.

Meanwhile has raised $19 million in financing across two seed rounds, with Hudson Structured Capital Management (HSCM) a participant, alongside other well-known venture and tech investing, as well as insurtech investing names, such as Sam Altman of OpenAI, former senior Stripe employee Lachy Groom, Gradient Ventures, Mouro Capital, and MS&AD Ventures.

Bermuda Managing Partner Brad Adderley led the transaction with support from Partner Sally Penrose, Counsel Lalita Vaswani, Senior Associate Khiyara Krige and Paralegal Remond Bonne Smith.

Brad Adderley said, “Congratulations to Meanwhile for being the first cryptocurrency denominated life insurance company in the world. What a grand achievement for the innovative minds at Meanwhile and its investors. Meanwhile will modernize the way consumers interact with life insurance products using digital money and AI. We are delighted to have played a role in establishing Meanwhile’s presence in Bermuda using the BMA’s innovative sandbox, and look forward to more exciting work with Meanwhile.”

The formation and registration of Meanwhile is an exciting marriage between direct life insurance and tech spaces, that will push the regulation sector to hybridize to meet the demands of emerging markets. Evolving tech and business is an essential part of Bermuda’s future and this is an example of the Island’s ability to be a leader in expanding this frontier.

About Meanwhile:

Meanwhile is the first and only life insurer with premiums and claims in cryptocurrency, creating core financial products denominated in Bitcoin (BTC). Meanwhile’s artificial intelligence (AI)-powered systems allow users to easily apply for their BTC life insurance policies, a tax-advantaged way to make a portion of policyholders’ Bitcoin active. 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

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