International life insurance company launches to bring Bitcoin into a trusted, institutional financial framework
ST PETER PORT, Guernsey--(BUSINESS WIRE)--Bitcoin Life, trading name of Perpetual21 Limited, has been granted a full regulatory licence as an international long-term life insurance company in Guernsey, marking a major milestone in bringing Bitcoin further into the wealth and estate planning market.
Alongside this, the company is launching its first product - a regulated whole-of-life, investment-linked insurance bond - which will be made available to long-term Bitcoin holders seeking a familiar, regulated and efficient way to pass on their Bitcoin to future generations.
This milestone positions Bitcoin Life as one of the first fully-regulated insurance businesses globally, built specifically to offer financial products underpinned by Bitcoin, and establishes a new, institutional-grade framework for holding Bitcoin over the long term.
With the granting of its full life insurance licence, Bitcoin Life can now operate as an international life insurer, providing long-term financial products to clients across multiple jurisdictions. The company has been built from the ground up to combine a belief in Bitcoin with the standards expected of a regulated, international financial institution.
“If you believe Bitcoin is going to be here for the long-term, then you need to think about how you structure your investments properly. We believe Bitcoin is a forever asset and, therefore, it needs a forever home. That's what we have been able to bring to the market. As founders, we eventually want to pass our Bitcoin down to our children seamlessly, so this licence is a huge milestone for us. It means that Bitcoin can now sit inside a fully-regulated, international insurance company, giving families the opportunity to include Bitcoin in their trusted estate planning tools. That opportunity simply didn't exist in this format before as the industry framework pre-dates Bitcoin. For decades, investors have been able to use life insurance wrappers to protect their assets and now we have built this business to bring Bitcoin into that estate planning world. Bitcoin Life is about building for the long term and creating structures that allow people to hold Bitcoin for life and to pass it on to future generations.” - Peter Lane, Founder & Executive Director, Bitcoin Life
The company's first product - a Bitcoin denominated whole-of-life, investment-linked insurance bond - is designed for individuals seeking estate planning with long-term Bitcoin exposure within a regulated structure. The product enables clients globally to:
- Invest a single premium in Bitcoin or fiat currency
- Hold 100% of the policy value directly in Bitcoin
- Benefit from institutional-grade custody infrastructure, provided by BitGo Europe GmbH
- Pass Bitcoin efficiently across generations through a regulated life insurance wrapper, with policyholder protection and trust arrangements provided by a regulated, independent trustee firm
Bitcoin can now be invested within a structure designed for long-term wealth and estate planning. To achieve this, Bitcoin Life has partnered with leading institutional providers across both digital assets and traditional insurance, ensuring a robust, secure and globally-recognised operating model.
Digital asset custody and trading is provided by BitGo Europe GmbH (“BitGo Europe”), a subsidiary of BitGo Holdings, Inc. (NYSE: BTGO) (“BitGo”), the digital asset infrastructure company trusted by clients worldwide.
Trustee services and actuarial services are provided by BWCI, a leading independent Guernsey-based service provider. BWCI's trust services bring robust governance in the safeguarding of client assets. BWCI's actuarial team have provided product design support and will continue to provide support for regulatory reporting.
Insurance management and regulatory oversight is provided by Polo Insurance Managers, part of PoloWorks, a Marco Capital Group company, with extensive experience in delivering insurance solutions to companies globally. Polo Insurance Managers works with clients to structure and operate regulated insurance businesses, particularly where the underlying risk or asset is complex or non-standard.
Legal assistance has been provided by Carey Olsen, a leading offshore law firm with extensive experience across financial services and regulatory matters.
“BitGo is proud to serve as Bitcoin Life's institutional custody and trading partner, providing the secure infrastructure behind an innovative, regulated Bitcoin insurance product. This partnership reflects our commitment to bridging traditional finance and digital assets with institutional-grade security.”
- Harald Patt, Managing Director, BitGo
“The successful launch of Bitcoin Life demonstrates how non-traditional assets can be incorporated into established insurance structures in a controlled and responsible way. Bitcoin Life combines Bitcoin exposure with a familiar life insurance framework, and our role is to ensure that this is delivered within a robust and well-governed structure.”
- Mark Elliott, CEO, Polo Insurance Managers
Contacts
Media Enquiries
Helen Disney, Press & Communications, Bitcoin Life
Email: press@bitcoinlife.co.uk Website: www.bitcoinlife.co.uk