BlockBeats News, April 10th, according to Fortune magazine, cryptocurrency insurance company Meanwhile has completed a $40 million Series A financing round, led by Framework Ventures and Fulgur Ventures, with participation from Wences Casares, founder of Xapo crypto bank.
According to the report, Meanwhile's life insurance policy operates similarly to traditional life insurance. Policyholders pay a monthly premium calculated by actuaries. However, customers do not pay via a bank account or check but rather through Bitcoin in their crypto wallets. When a policyholder passes away, their beneficiaries will receive the claim amount in Bitcoin.