Blockchain Deposit Insurance Corporation (“BDIC”), a decentralized cryptocurrency deposit insurer providing coverage for digital assets, has announced the establishment of its Singapore business operations, the engagement of Cole-Frieman & Mallon LLP as outside counsel in the United States, and a target of the first quarter of 2027 for its BDIC Coin token sale.

Singapore Entity to Serve as Primary Underwriting Hub

The company's new Singapore entity, BDIC SG PTE LTD, located on Lorong Ampas in Singapore, is intended to serve as BDIC's primary insurance underwriting hub. BDIC has engaged local legal representation and will begin the regulatory engagement process for the new insurance entity approval under the Monetary Authority of Singapore (MAS).

The announcement lands in a market where deposit insurance has long been a cornerstone of traditional banking—U.S. bank deposits, for example, are backed by FDIC coverage—while digital asset balances held on exchanges, with custodians, or in wallets have generally carried no equivalent protection against hacks, exploits, and theft. BDIC's approach, a digital twin of the FDIC deposit insurance model executed through smart contract-automated claims, is designed to extend that safeguard to digital assets.

While awaiting its appointment and approval to write policy coverage directly, the company plans to place coverage for clients' needs through existing dedicated insurance cells issued via network partners. During this interim period, a Cayman Islands BDIC Foundation and its British Virgin Islands subsidiary will be established to issue the BDIC Coin independently of BDIC. The token is intended to be used to pay BDIC insurance premiums, settlements, and governance as a utility payment token.

Why Singapore

BDIC selected Singapore as its second location after BDIC HK, and its intended primary insurance underwriting hub, because of the depth of the jurisdiction's financial regulation and its position in Asian digital asset markets. The MAS functions as Singapore's central bank and integrated financial regulator, supervising banking, insurance, and capital markets under a licensing-based framework that extends to digital asset services. According to the company, Asia has moved ahead of much of the world in digital asset adoption and market awareness, and BDIC's operational strategy is designed to meet the requirements set out by MAS rather than work around them.

“Establishing our presence in Singapore is more than a geographic expansion from our location in Hong Kong. It is a foundational step in our mission to bring institutional-grade security to the digital asset ecosystem,” said Paul Kohli, Co-Founder and Managing Director, Hong Kong and Pan-Asian Operations of BDIC, speaking from the company's Central District offices in Hong Kong. “By working within the MAS framework, we are embedding compliance, solvency, and operational integrity into our global insurance products. As we have engaged local representation and will submit the required information in the coming weeks, we look forward to working with the MAS team for our approval.”

Regulatory and Compliance Architecture

According to BDIC's compliance team, the company is considering partnering with an existing local insurance partner, though this is not required in order to operate under the Insurance Act, which is administered by MAS. BDIC's operations are also designed to align with Singapore's broader digital asset statutes, including the Payment Services Act 2019 (PSA) and the Financial Services and Markets Act 2022 (FSMA), which govern digital payment token services, including custody.

Cross-border insurance carries jurisdiction-specific obligations, and BDIC is structuring its global offering to satisfy local mandates in the jurisdictions where its policyholders reside, as well as for global reach. While the Singapore hub is intended to serve as the primary underwriting engine, BDIC intends to serve policyholders in other jurisdictions through structured reinsurance partnerships, risk ceding, or partnerships with admitted local carriers in Europe, for instance. The company is also implementing asset valuation protocols that include independent custody verification and cold-to-hot wallet storage ratios consistent with international auditing standards, where applicable.

Chief Risk and Compliance Officer (CRCO) Adriano Raimondi added, “The reason for strict compliance and regulation is to protect consumers, policyholders, and the industry as we forge into the digital asset insurance space. These controls will create the next version of traditional finance, a stable environment in which consumers and businesses alike can operate globally. MAS guidelines are an example of what BDIC wanted as a framework from the start.”

Legal and Infrastructure

BDIC's CEO emphasized the company's commitment to building its platform on a properly established legal and compliance foundation, and it has subsequently engaged Cole-Frieman & Mallon LLP as outside counsel in the United States.

“Insurance is an important marker of a mature market. It is time crypto was properly insured, but navigating a complex global regulatory landscape can be challenging for any crypto infrastructure company. We're excited to assist BDIC with its regulatory compliance so it can grow and scale in this market,” said Daniel Payne, Partner at Cole-Frieman & Mallon LLP.

“We are building a global insurance infrastructure, and that is only credible if the legal foundation is done properly and done first,” said Jeffrey A. Glusman, Chief Executive Officer and Founder of Blockchain Deposit Insurance Corporation. “Retaining counsel of this caliber with actual experience in the digital asset sector is key in navigating the regulatory gauntlet. We would rather be proactive now that there have been considerable advancements in the legislature with more finality around the corner, with MiCA now in force in Europe and US legislation advancing, than be reactive later.”

His comments reference two developments reshaping the operating environment for crypto infrastructure firms: MiCA—the European Union's Markets in Crypto-Assets Regulation—is now in force across the bloc, and U.S. federal digital asset legislation continues to advance.

BDIC Coin Token Sale Targeted for Q1 2027

BDIC representatives confirmed that the BDIC Coin token sale is targeted for the first quarter of 2027. BDIC Coin will be issued by a Cayman Islands Foundation and its British Virgin Islands subsidiary (the minting entity) independently of BDIC, once those entities are established.

BDIC Coin will have a total supply of 1.6 billion. BDIC's insurance reserve is held in non-Coin assets, and the company is fully capitalized outside the BDIC Coin allocation. A total of 528 million BDIC Coins (33%) will be allocated as overcollateralization behind pledged assets as a financial backstop. In a liquidity event, the Cayman Islands Foundation and its British Virgin Islands subsidiary would sell these reserve coins only to support insurance payouts after the pledged assets have been depleted.

Between now and the targeted window, several milestones fall due: establishment of the Cayman Islands Foundation and its British Virgin Islands minting entity, publication of the pre-sale disclosure package, and the progression of BDIC's Singapore insurance entity from information submission in the coming weeks toward an MAS approval decision.

BDIC Coin: Intended Utility

BDIC Coin is intended to be used to pay BDIC insurance premiums at a discount, and additional utility may be added in the future. The token will not represent equity, debt, ownership interest, or a right to share in BDIC's revenues or profits, and BDIC does not market BDIC Coin as an investment vehicle or promise price appreciation.

BDIC's disclosure materials, including independent reserve attestation, smart contract audit reports, verified contract addresses, a code repository link, and the final Token Purchase Agreement, will be published before the token sale. Timing, structure, jurisdictions of availability, and eligibility requirements remain subject to legal, regulatory, business, and technical review and may be modified accordingly.

About Blockchain Deposit Insurance Corporation (BDIC)

Blockchain Deposit Insurance Corporation (BDIC) is a decentralized cryptocurrency deposit insurer founded in 2024 and headquartered in Hong Kong, with additional offices planned in Switzerland, South America, and Europe. BDIC has adopted a digital twin business model, compared to the FDIC deposit insurance model, for digital assets, providing coverage against hacks, exploits, and theft through smart contract-automated claims.

BDIC's product line includes Standard Crypto Deposit Insurance (Standard tier: $0 to $10,000; Preferred tier: $10,000 to $20,000), HNW coverage of $50K and above, StableCover Pro for stablecoin reserves held by funds, DAOs, and corporate treasuries, AgentCoverPro for AI agent payment systems and autonomous transaction infrastructure, and VaultCoverPro for self-custody holders.

The company was founded by Chief Executive Officer Jeffrey A. Glusman, a former Merrill Lynch executive, and is led by a team drawn from traditional finance, federal banking supervision, and enterprise cloud security. More information is available at BDICinsurance.com or in the [BDIC Litepaperhttps://bdicinsurance.com/litepaper/).

Media Contact

BDIC
Liam Nguyen, Chief Marketing Officer, Blockchain Deposit Insurance Corporation (BDIC)
Email: lnguyen@bdicinsurance.com
Website: BDICinsurance.com
BD Bulletin: BDICinsurance.com/the-bulletin
Newsroom:
X: x.com/bdicofficial
LinkedIn: linkedin.com/company/blockchain-deposit-insurance-corporation
Telegram: t.me/BDICInsurance
Instagram: instagram.com/bdicinsurance

Cole-Frieman & Mallon LLP
Ian Potts, Chief Marketing Officer, Cole-Frieman & Mallon LLP
Email: ipotts@colefrieman.com

Non-Investment Disclaimer

BDIC does not market BDIC Coin as an investment or financial instrument. BDIC does not promise or guarantee token price appreciation, dividends, or profit distributions. Purchasers should not expect returns from appreciation in the value of BDIC Coin and should consider the token only for its described utility.

Important Notice

This announcement and BDIC's litepaper, whitepaper, and prior informational materials are provided for general informational purposes only. They do not constitute an offer to sell, or a solicitation of an offer to buy, any digital asset, security, insurance product, or other financial instrument. No offering will be made except pursuant to applicable legal and regulatory requirements.

The proposed utility token offering remains subject to legal, regulatory, business, and technical review and may be modified or delayed to comply with applicable requirements. No representation is made regarding the future value, availability, liquidity, or regulatory classification of any proposed digital asset. Statements regarding licensing applications, regulatory engagement, and anticipated timing are forward-looking and are not assurances that any license, approval, or registration will be granted.