Blockchain Deposit Insurance Corporation (BDIC), the Hong Kong-based decentralized crypto deposit insurer, announced today a series of updates to its managing general agent (MGA) network and partnerships, signaling a push to bring institutional-grade insurance to the digital asset space. With over 716 million global crypto holders and only 2% of assets currently insured, BDIC aims to fill a critical gap highlighted by $17 billion in crypto fraud losses in 2025, according to Chainalysis.
Stablecoin Insurance for Banks and Institutions
BDIC's new product, StableCover Pro, targets banks, wallet providers, and exchanges seeking FDIC-adapted deposit insurance for stablecoins. Founder and CEO Jeffrey A. Glusman noted that regulatory shifts have enabled BDIC to offer this coverage, which he described as a missing layer for institutional participation. “Anticipation on the crypto market gravitating towards stablecoins as a mainstream financial tool allows us to show institutions how to incorporate our solution,” Glusman said.
Chief Marketing Officer Liam Nguyen emphasized that crypto is no longer a fringe asset class, but a core part of banking operations. “Insurance has moved from a nice-to-have to a precondition for serious participation,” Nguyen said, citing BDIC's partnership with the Banking Exchange as a key driver of momentum.
Network Expansion and Industry Partnerships
BDIC's C-suite is currently meeting with bank executives at the University of Chicago, alongside network partners including AI2030, Alacriti, Crowe, Finastra, Fireblocks, Paywhere, and tesser. These discussions focus on integrating crypto into deposit strategies and navigating the impact of AI and data on business plans. BDIC's Chief Risk and Compliance Officer Adriano Raimondi stressed that a serious digital asset framework must define the market, protect consumers, and assign accountability before failure.
The company has also been invited to participate in InsurTech NY's MGA Lab, where it will explore unlimited coverage capacity through strong partner ratings. “The network effect in crypto insurance mirrors the classic insurance market,” Glusman said, adding that clients can specify priority coverage zones and BDIC will deliver with accurate timelines.
Marketing and Adoption Efforts
BDIC's magazine, The BDIC Bulletin, published its fourth edition on June 1 with the cover article “Banks Win,” while the upcoming BDIC Broadcast will focus on education and adoption. The company hinted at more press releases in the coming weeks, suggesting that the quiet period has reached a tipping point. “Platform providers know what consumers want and are ready to deliver,” Glusman said, noting that insurance is the missing layer to accelerate adoption.
For context, traditional financial institutions are also exploring blockchain-based deposit networks, as seen in JPMorgan, Citi, BofA to Launch Shared Blockchain Deposit Network by 2027. Meanwhile, crypto insurance remains a nascent but growing sector, with BDIC positioning itself as a key player.
As the crypto market matures, BDIC's expansion into MGA networks and stablecoin insurance could provide the protection layer needed for mainstream adoption. The company's focus on banks and institutions aligns with broader trends in digital asset integration, though challenges remain in security and regulatory compliance. Raimondi emphasized that hardened application security and real-time fraud detection must be foundational, not retrofitted, as AI payment agents and stablecoins enter mainstream finance.
This article is for informational purposes only and does not constitute financial advice.
