The world's first bitcoin-denominated life insurer sought Bermuda as a domicile because it wanted to be regulated by the Bermuda Monetary Authority, a bitcoin-focused venture capitalist was told on his podcast today.

Zac Townsend, cofounder and chief executive officer of Bermuda-based life insurer, Meanwhile, was speaking on The Mark Moss Show, hosted by the Mark Moss, a seasoned entrepreneur and educator.

Mr Townsend was clarifying that Meanwhile, was domiciled in Bermuda and not the Bahamas. He said his company joined many life insurers and property and casualty companies in Bermuda.

He said Bermuda was “difficult” in terms of regulation, but in a good way.

He said: “They are really the only offshore jurisdiction that is respected both by the American regulatory bodies and the European regulatory bodies. There is all this equivalence and stuff.”

The host asked why Bermuda as opposed to Bahamas, if it was so much more difficult.

Mr Townsend responded: “Because it was so much more difficult.”

Mr Moss: “So you could have more trust?”

Mr Townsend: “Yes. It took us almost two years to launch. We had to write a giant business plan. We had to get an internal auditor, an external auditor, an approved actuary, an insurance manager. We had to convince all of these people — who had ever thought about crypto and insurance before.

“We have a chief risk officer, a chief compliance officer, 17 corporate policies, 150 corporate controls.

“We could have set this company up in Cayman, or the Bahamas or British Virgin Islands a lot faster, but being in a jurisdiction that people know is trustworthy is super-important.

“And critically, they are trustworthy, they are difficult — maybe difficult is not the (right word) — they are challenging. They provide a lot of oversight. And, this is also where Coinbase’s offshore operations are.

“They are also very innovative. They want things to happen on the island. And in that way, we were able to have a dialogue.”

The Mark Moss Show is billed as a blueprint for financial sovereignty.

The show states: “We challenge outdated financial models and explore bold strategies powered by Bitcoin, AI, decentralisation, and innovation — giving you the knowledge to navigate today’s fast-changing economy.

“We dive deep into macro trends, financial markets, and economic shifts, exposing the flaws of traditional finance and the power of sound money principles.

“Whether you're an investor, entrepreneur, or someone seeking financial independence, this show provides the real insights and battle-tested strategies you need to thrive.”