Apimeds' MindWave Forms Bermuda Insurance JV with Skalup

Apimeds Pharmaceuticals US, Inc. (NYSE American: APUS) has announced that its wholly owned subsidiary, MindWave Innovations Inc. USA, has entered into a shareholders and joint venture agreement with Singapore-based Skalup Capital Pte Ltd to establish an insurance and technology business in Bermuda under the working brand Monaco Insurance. The venture is subject to regulatory approval and will be structured with MindWave holding 75% of the common equity and Skalup holding 25%. The proposed business aims to combine MindWave’s blockchain infrastructure and digital-asset-backed capital through staking with Skalup’s underwriting expertise and regulatory support. The partners plan to pursue licensing from the Bermuda Monetary Authority (BMA), with initial business lines focused on life annuity products and general insurance.

Under the agreement, MindWave will lead technology development, including blockchain-based systems designed to digitize insurance contracts, policies, and claims processes through its MindChain ecosystem. Skalup will support licensing applications and oversee underwriting operations once regulatory approvals are obtained. The partners also intend to explore reinsurance opportunities through globally rated markets. MindWave will retain ownership of its underlying technology and intellectual property, licensing its use to the venture. Initial activities will focus on incorporation, business planning, licensing applications, and platform development, with insurance operations contingent on obtaining the required approvals. For full details, visit the press release at https://ibn.fm/el8k8.

MindWave Innovations Inc. USA, a wholly owned subsidiary of Apimeds Pharmaceuticals US, Inc., develops enterprise blockchain infrastructure, the MindChain Layer 2 network, and institutional platforms for regulated financial services, real-world asset tokenization, and enterprise applications. MindWaveDAO serves as the community and ecosystem layer around MindChain, connecting companies, builders, validators, and token holders. NILA holders vote on proposals, including which builders are funded and how ecosystem resources are allocated, and its Transparency Center publishes contributions, allocations, and governance results. The latest news and updates relating to APUS are available in the company’s newsroom at https://ibn.fm/APUS. This announcement was distributed by TechMediaWire, a specialized communications platform focused on pioneering public and private companies driving the future of technology, which is part of the Dynamic Brand Portfolio @ IBN.