Zachary "Zac" Townsend stands at the dynamic intersection of technology, finance, and public policy—a visionary leader shaping the future of financial inclusion through innovation. As the CEO and Co-Founder of Meanwhile Insurance, he’s pioneering a bold new model: the world’s first life insurance provider built entirely on Bitcoin (BTC). This isn’t just fintech evolution—it’s a fundamental reimagining of how people can protect their wealth and legacy in a digital economy.
Backed by deep experience in government, banking-as-a-service innovation, and global financial consulting, Zac brings rare credibility to the crypto frontier. His journey—from advising mayors to leading tech transformation at McKinsey—has all led to this moment: building a Bitcoin-native financial institution designed for long-term resilience and global accessibility.
From Public Service to Fintech Innovation
Zac’s career has always centered on one core mission: financial inclusion. Growing up in a working-class family in New Jersey instilled in him an early awareness of economic inequality—and a determination to build systems that work for everyone.
After earning a degree in Applied Mathematics and Public Policy from Brown University, Zac moved to New York City and began his career in data-driven public sector consulting. It was there he crossed paths with then-Mayor Cory Booker of Newark, who recruited him as Head of Innovation for the City of Newark. In that role, Zac launched initiatives focused on expanding access to banking and credit for underserved communities.
This experience solidified his belief that technology could be a powerful equalizer. He later served as CTO of Newark and went on to become the first Chief Data Officer of the State of California, where he helped modernize data infrastructure across state agencies.
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But Zac’s ambitions extended beyond government. In 2013, he co-founded Standard Treasury, a fintech startup accepted into Y Combinator’s summer batch. As Head of Product, he helped build one of the earliest banking-as-a-service (BaaS) platforms—essentially enabling non-banks to offer financial services via APIs. The company was acquired by Silicon Valley Bank (SVB) in 2015, marking an early success in infrastructure-level financial innovation.
Later, Zac joined McKinsey & Company as an Associate Partner, leading fintech strategy for banks and insurers across North America. These experiences gave him unparalleled insight into both legacy financial systems and emerging digital opportunities.
Why Bitcoin Life Insurance?
In late 2021, Zac reunited with longtime friend Max Gasner to explore launching a new venture rooted in their shared passion for financial empowerment. Their conclusion? Bitcoin is the most credible long-term store of value in the digital age, and life insurance is one of the most foundational financial tools for wealth preservation.
“We asked ourselves: which digital asset will still matter in 50 or 100 years? The answer was clear—Bitcoin.”
Thus, Meanwhile Insurance was born in January 2022: a Bitcoin-denominated life insurance company offering Whole Life policies where every aspect—from premiums to death benefits—is transacted in BTC.
How It Works
Meanwhile operates like a traditional life insurer—but with one revolutionary difference: everything runs on Bitcoin.
- Policyholders pay premiums in BTC.
- They can borrow against their policy’s cash value using BTC-denominated loans.
- Upon death, beneficiaries receive the full death benefit in BTC.
- Even internal operations—solvency calculations, risk modeling, asset management—are conducted natively in Bitcoin.
This isn’t speculation. It’s about long-term financial sovereignty—especially for those whose wealth is already tied to digital assets.
Why Bermuda? Regulatory Vision Meets Innovation
Choosing Bermuda as Meanwhile’s base wasn’t arbitrary. The island nation has emerged as a global leader in insurance regulation and is rapidly becoming a hub for crypto-forward financial services.
With institutions like Coinbase and Cash App establishing offshore operations there, Bermuda offers a stable, well-understood regulatory environment with growing expertise in digital assets. Meanwhile is licensed under the Bermuda Monetary Authority (BMA) as a Class ILT insurer—the same category used by major international life insurers.
While regulatory innovation always comes with challenges, Zac emphasizes collaboration over conflict:
“We’re grateful to work alongside the BMA to pioneer something truly revolutionary.”
Raising $20M During Crypto Winter: A Vote of Confidence
Despite launching amid the 2022–2023 crypto downturn, Meanwhile successfully raised over $20 million in seed funding—a testament to the strength of its vision.
Led by Sam Altman (co-founder of OpenAI), the round included participation from prominent solo investors like Lachy Groom, as well as institutions such as Northwestern Mutual and Google. For Zac, bear markets aren’t obstacles—they’re opportunities.
“Some of the world’s most revolutionary companies were built during downturns.”
The logic is simple: if you believe Bitcoin will underpin a global digital economy, then Bitcoin-native insurance isn’t just novel—it’s inevitable. And with life insurance representing 2–3% of GDP in developed economies, the market potential is massive.
Target Customers: The Crypto-Native and the Crypto-Curious
Meanwhile serves two primary customer profiles:
- Crypto-native individuals who’ve accumulated significant wealth through digital assets.
- Traditional high-net-worth individuals who hold crypto as part of a diversified portfolio.
For both groups, Meanwhile offers more than convenience—it offers amplified financial advantages.
Like traditional whole life insurance, Meanwhile’s policies provide tax-deferred growth and liquidity. But because the underlying asset (BTC) has appreciating potential, those benefits can grow exponentially over time—especially in high-inflation environments.
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Global Expansion and Future Product Roadmap
While currently focused on U.S. customers, Meanwhile has global ambitions. The 2024 roadmap includes launching entities in jurisdictions where life insurance offers favorable tax treatment—opening doors for residents in countries facing currency instability.
“There are 57 countries that experienced inflation above 10% last year. For many people there, Bitcoin isn’t speculative—it’s survival.”
Beyond whole life, Meanwhile plans to expand into:
- Term life insurance
- Group life policies
- Key person insurance
- Annuities
The goal? To become the world’s largest life insurer, serving up to one billion customers—not just in wealthy nations, but across emerging markets where financial infrastructure is fragile.
FAQs: Your Questions Answered
Q: Can I convert my existing life insurance policy to Bitcoin?
A: Not directly. However, you can surrender your current policy (subject to terms) and use the proceeds to fund a new BTC-denominated policy with Meanwhile.
Q: Is Bitcoin life insurance regulated like traditional insurance?
A: Yes. Meanwhile is fully licensed by the Bermuda Monetary Authority and adheres to strict capital reserve and solvency requirements.
Q: What happens if Bitcoin’s price drops significantly?
A: Life insurance is a long-term product. While BTC price volatility exists short-term, Meanwhile’s actuarial models are built around decades-long horizons, similar to traditional insurers managing market risk.
Q: Do I need to be a U.S. citizen to apply?
A: Not necessarily. While operations are U.S.-focused today, Meanwhile is actively exploring international expansion for residents in qualifying jurisdictions.
Q: How do I apply for coverage?
A: Visit Meanwhile’s website to join the waitlist. Each applicant speaks directly with a team member to review eligibility, answer questions, and guide them through underwriting.
Q: Does Meanwhile support other cryptocurrencies?
A: No—currently, all policies are exclusively Bitcoin-denominated. The team believes BTC has the strongest long-term viability among digital assets.
A Personal Crypto Journey Rooted in Conviction
Zac’s personal engagement with crypto began in 2015 during Standard Treasury’s acquisition process—when Brian Armstrong of Coinbase sent him his first Bitcoin to demonstrate the platform. That small gesture sparked a deep dive into blockchain technology and decentralized finance.
Though he explored other projects early on, Zac ultimately returned to Bitcoin as the most robust and enduring asset in the ecosystem.
“After everything I’ve seen—from Wall Street to Silicon Valley to government—I still believe BTC is the best long-term store of value we have.”
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With a foundation built on real-world experience, regulatory clarity, and technological conviction, Zac Townsend and Meanwhile Insurance are proving that crypto isn’t just for trading—it’s for building lasting legacies.