Bitcoin Life, operating as Perpetual21 Limited, received a full regulatory license in Guernsey on September 17. The company is now authorized to operate as an international long-term life insurance provider.
The firm launched a Bitcoin-denominated whole-of-life insurance bond. Clients pay a single premium in either Bitcoin or fiat currency, and the policy value is held in Bitcoin under institutional custody.
BitGo Europe GmbH manages the custody of assets. Trustee services are provided by BWCI, while Polo Insurance Managers oversees the operations. The legal architecture was developed by the law firm Carey Olsen.
The product is designed for long-term wealth preservation and estate planning. It allows for the direct transfer of assets to beneficiaries upon the death of the policyholder, bypassing traditional probate processes.
The insurance bond structure aims to help international clients manage tax liabilities on investment gains. The offering is targeted at users across multiple jurisdictions, leveraging Guernsey's status as an insurance hub.
