Meanwhile Group, connected to Sam Altman, the CEO of Worldcoin and OpenAI, has established a private credit fund denominated in Bitcoin. The purpose of the BTC Private Credit Fund is to provide investors with a 5% Bitcoin yield, which is considered conservative. This special fund is going to lend Bitcoin to institutional equivalents instead of people, which is a calculated strategic move.
This fund is an innovative technique to finance cryptocurrencies. When the fund closes, investors’ US dollars will be converted to Bitcoin. These Bitcoin assets will be lent out by the fund, and any fees will be deducted in Bitcoin as well. Meanwhile Group CEO and co-founder Zac Townsend highlighted how institutional investors may efficiently leverage their Bitcoin holdings through the fund without having to give up control.
The Meanwhile Group has taken a big step with the creation of this fund, demonstrating its growth in the cryptocurrency space. The team established Meanwhile Insurance, a Bermuda-based company that provides life insurance services with benefits and premiums only denominated in Bitcoin. Meanwhile Insurance is another creative solution at the nexus of traditional financial and digital assets, and it is currently accessible in the United States. In the meantime, Group is positioned as a major participant in the development of financial services related to Bitcoin thanks to the support of prominent individuals like Sam Altman and former Stripe executive Lachy Groom.
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