Meanwhile Group, linked to OpenAI and Worldcoin CEO Sam Altman, has created a Bitcoin-denominated private credit fund. The Meanwhile BTC Private Credit Fund is designed to offer investors a conservative yield of 5% in Bitcoin.
This unique fund will lend Bitcoin to institutional counterparts, a strategic move that diverges from the usual practice of lending to individuals.
This fund represents a novel approach in the cryptocurrency financing space. Investors will commit U.S. dollars, converted into Bitcoin upon the fund’s closure.
The fund will lend out these Bitcoin holdings, with all fees also being charged in Bitcoin. Zac Townsend, co-founder and CEO of Meanwhile Group, emphasized the fund’s potential for institutional investors to leverage their Bitcoin holdings effectively without relinquishing ownership.
The launch of this fund is a significant step for Meanwhile Group, showcasing its expansion in the cryptocurrency domain. The group launched Meanwhile Insurance, a Bermuda-based entity offering life insurance services with premiums and benefits exclusively in Bitcoin.
Currently available in the United States, Meanwhile Insurance represents another innovative solution in the intersection of traditional finance and digital assets. Meanwhile Group’s backing by notable figures such as Sam Altman and former Stripe executive Lachy Groom positions it as a key player in evolving Bitcoin-related financial services.
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