Cryptocurrency insurance company Mean completes $40 million Series A funding, led by Framework Ventures and others

According to Fortune magazine, cryptocurrency insurance company Mean completed a $40 million Series A funding round led by Framework Ventures and Fulgur Ventures on Thursday, with Wences Casares, founder of cryptocurrency bank Xapo, also participating in the investment. This round of financing values Meanwhile at $190 million, almost double its valuation from the most recent round of financing in 2022. Mean will use the funds raised in this round of financing to expand globally and ensure that its products comply with regulatory requirements. It is reported that Mean's life insurance policy is similar to regular life insurance. The policyholder shall pay the monthly premium calculated by the actuary. However, unlike paying from a bank account or using a check, customers need to pay with Bitcoin from a cryptocurrency wallet. When the policyholder passes away, their family members will receive the claim amount in the form of Bitcoin.