The Next $600B of Real-World Blockchain Adoption: Why Pantera Invested in TransCrypts, Meanwhile and Coinflow

Summary

• TransCrypts, Meanwhile and Coinflow are the most recent examples of Pantera Capital investing in companies that drive real-world adoption of blockchain technology
• Meanwhile offers bitcoin-denominated life insurance policies, providing inflation-proof savings and retirement products.
• Coinflow’s infrastructure enables instant, cross-chain settlements and fiat payments for businesses, while TransCrypts is building a tamper-proof, user-owned data backbone for digital identities.

For over a decade at Pantera, we’ve bet on a simple idea: blockchain’s greatest impact will come from solving problems people didn’t even know blockchain could fix. That’s why we’ve backed companies like Circle, Figure, and Bitso—teams that brought blockchain infrastructure to remittances, capital markets, and payments. And it’s why our latest investments in Meanwhile, TransCrypts, and Coinflow follow the same playbook: find massive, broken markets where decentralization creates tangible value for non-crypto users.

Here’s what we’re building:

TransCrypts

User-Owned Digital Identity

Identity fraud will cost over $50 billion globally in 2025. The culprit? Centralized databases that are honeypots for hackers and incompatible across borders.

TransCrypts is building the alternative: a tamper-proof, user-owned data backbone where credentials—work history, health records, education—are anchored to an immutable blockchain. No institution controls your data. No server breach exposes millions of records. And as AI-driven fraud becomes more sophisticated, cryptographic security becomes non-negotiable.

“Our goal is simple: to give people 100% control of their identity,” said Zain Zaidi, CEO and Founder of TransCrypts. “Whether it’s employment, health, or educational records, we’re making verification secure, efficient, and fraud-resistant.”

The market agrees: the digital identity sector is valued at $40 billion in 2025 and projected to hit $203 billion by 2034, with decentralized identity growing at 53–89% annually.

TransCrypts isn’t just protecting identities. It’s returning ownership to users.

Check out TransCrypts | Pantera’s investment thesis

Meanwhile

Bitcoin Denominated Life Insurance

The problem is straightforward: traditional life insurance policies lose purchasing power to inflation, and cross-border savings products are riddled with restrictions. For the 7.1% of global GDP tied up in life insurance, that’s a silent wealth drain.

Meanwhile, regulated by the Bermuda Monetary Authority, offers something different: policies denominated and paid out in bitcoin. Policyholders can borrow up to 90% of their policy’s bitcoin value tax-efficiently, while Meanwhile generates sustainable yield by lending assets to regulated institutions. The result? Inflation-resistant wealth protection that’s programmable, auditable, and borderless.

The traction speaks for itself: Meanwhile’s bitcoin under management grew over 200% this year. Families and institutions are recognizing bitcoin not as speculation, but as a reliable store of value for generational wealth.

“Life insurers have always provided the steady, long-term capital that keeps financial markets moving,” said Zac Townsend, CEO of Meanwhile. “We’re bringing that same role to Bitcoin—helping families save and protect wealth in BTC, while giving institutions new ways to earn returns and launch bitcoin-indexed products that are compliant and easy to scale. This raise lets us build on what’s working and expand it with partners around the world.”

Check out Meanwhile | Meanwhile funding announcement on bloomberg

Coinflow

Cross Chain Stablecoin Payment

Cross-border payments are a $220 billion market growing to $320 billion by 2030. But the system is broken: U.S. e-commerce merchants selling to Africa or Asia pay 7% per transaction plus 2–3 day settlement times. That’s $700 on every $10,000 in sales. Stablecoins solve this—but most solutions trap users in a single blockchain or force them to manage crypto wallets. Businesses don’t want that complexity.

Coinflow removes it. Their infrastructure enables instant, cross-chain settlements (Solana to Ethereum), supports fiat pay-ins and pay-outs, and includes AI-powered fraud prevention. Merchants get blockchain’s speed and cost savings without touching crypto.

Daniel Lev, founder of Coinflow," At Coinflow, we believe the payment layer of the internet should be instant, secure, and truly global. Merchants shouldn’t be forced to wait days for settlement, lose revenue to fraud, or manage a patchwork of local payment rails."

The numbers: 23x revenue growth since their 2024 seed round, payment coverage in 170+ countries, and a multi-billion-dollar annual transaction run rate. With new funding, they’re expanding payout coverage to 100+ countries across Asia and Latin America.We’re excited to lead the Series A investment in Coinflow, the payments infrastructure for modern money. Coinflow provides a unified payment stack with instant settlement and fraud protection, solving issues that legacy providers haven’t addressed.

Check out Coinflow | Pantera’s investment thesis

Why This Matters

Blockchain’s killer app isn’t a better token or a faster chain. It’s infrastructure that makes life easier, safer, and more efficient for people who will never open a wallet. Meanwhile protects generational wealth. TransCrypts secures digital lives. Coinflow unlocks global commerce. Together, they represent over $570 billion in addressable market opportunity—and more importantly, millions of people gaining access to services that were previously out of reach.

This is what adoption looks like. And we’re just getting started.

- Paul Veradittakit

Important Disclosures – Certain Sections of This Letter Discuss Pantera’s Advisory Services and Others Discuss Market Commentary. Certain sections of this letter discuss the investment advisory business of Pantera Capital Partners LP and its affiliates (”Pantera”), while other sections of the letter consist solely of general market commentary and do not relate to Pantera’s investment advisory business. Pantera has inserted footnotes throughout the letter to identify these differences. This section provides educational content and general market commentary. Except for specifically-marked sections of this letter, no statements included herein relate to Pantera’s investment advisory services, nor does any content herein reflect or contain any offer of new or additional investment advisory services. This letter is for information purposes only and does not constitute, and should not be construed as, an offer to sell or buy or the solicitation of an offer to sell or buy or subscribe for any securities. Opinions and other statements contained herein do not constitute any form of investment, legal, tax, financial, or other advice or recommendation.