Meanwhile, the world's first Bitcoin life insurance company, has announced that chief risk and compliance officer Annie Tay will transition to become a senior adviser.

In her new position, Ms Tay will continue to provide strategic counsel as Meanwhile builds on the robust governance, risk management, and compliance framework she developed during her tenure as CRO, the company said.

Zac Townsend, Meanwhile’s cofounder and chief executive officer, said: “In her previous roles, Annie developed world-renowned expertise in developing and launching risk and compliance programmes at life insurers. We were lucky to have her on board as we launched a fully functioning life insurer from scratch.

“Whether it's developing our best-in-class anti-money-laundering programme or launching our internal asset-liability matching processes, we wouldn't be where we are today without her.”

Ms Tay joined the company after three decades of insurance leadership, most recently working on insurance stress testing and the insurtech programme at the Bank of England.

The company said she is an expert on how innovative technology such as artificial intelligence and digital assets push evolution in life insurance.

Meanwhile Incorporated's subsidiary, Meanwhile Insurance Bitcoin (Bermuda) Ltd, is the world's first Bitcoin life insurer.

Regulated by the Bermuda Monetary Authority as a Class ILT insurer, Meanwhile Insurance is a fully functioning life insurance company denominated in Bitcoin.

The Bermuda subsidiary is entirely denominated in BTC, accepting all premiums and paying out all claims in BTC.