Meanwhile, a startup offering life insurance and annuities denominated in Bitcoin (BTC), raised 40 million dollars in series of series A series, said CEO Zac Townsend on Thursday in a post.
The investment was led by Framework of venture capital companies and Fulgur Ventures, with the first Bitcoin-Advocate Wences Casares also participating.
Traditional life insurance pays in fiduciary currencies. Meanwhile, returns this model, keeping the bitcoin bonuses and advantages, aimed at helping insured people protect themselves against inflation and the devaluation of currencies. In countries where local currencies lose value, the holding of BTC policies could help preserve purchasing power for future payments. However, the insured also support the volatility of Bitcoin prices.
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The company plans to use funds to accelerate its global deployment, targeting regions where inflation and instability of currencies are daily concerns, Townsend said. Meanwhile, has not revealed its current or specific registration plans in the ad.
“This round gives us important capital to fuel our construction trip from the largest long -term insurance and savings company in the world,” said Townsend.
The investment follows a cycle of anterior $ 20 million from a range of investors, including Sam Altman, CEO of the Artificial Intelligence company Openai, alongside the Gradients of funds focused on AI. The company obtained a digital life insurer license in Bermuda last year.
