Meanwhile, a startup offering life insurance and annuity, in Bitcoin (BTC), raised $ 40 million in Serie A financing round, CEO Zac Townsend said on Thursday in an X post.
The investment was led by venture capital companies hitting and Fulgur Ventures, with early Bitcoin-Consultancy-Wences Casares also participated.
Traditional life insurance pays out in Fiat currency. Meanwhile, this model tilts, holding prizes and benefits in Bitcoin, with the aim of helping policyholders watch against inflation and currency evaluation. In countries where local currencies lose value, having policies in BTC can help maintain purchasing power for future payments. However, insurance policies also take on Bitcoin’s award volatility.
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The company plans to use the funds to accelerate its global roll -out, target regions where inflation and currency -Utability are everyday concerns, Townsend said. Meanwhile, did not reveal its current valuation or specific market input plans in the message.
“This round gives us considerable capital to drive our journey to build the world’s largest long-term insurance and savings company,” Townsend said.
The investment follows on a previous round of $ 20 million from a number of investors, including Sam Altman, CEO of the artificial intelligence company Openai together with Google’s AI-focused fund-gradient ventures. The company secured a digital life insurance license in Bermuda last year.
