HONG KONG--(BUSINESS WIRE)--Blockchain Deposit Insurance Corporation (BDIC), a leader in deposit insurance for digital currencies, issued operational updates clarifying corporate filing in Bermuda, time frame for filing in Switzerland, statements from Founder/CEO Jeffrey A. Glusman on BDIC Foundation and Managing Director/Equity Partner Paul Kohli on BDIC Hong Kong.
BDIC Bermuda
Recent perceived media suggesting BDIC’s filing in Bermuda was approved was premature. BDIC maintains ongoing communication with the Bermuda Monetary Authority (BMA) as regulatory approval remains an active process, reaffirming commitment to Bermuda- recognized as the “insurance capital of the world”-with filing a top priority despite unexpected delays.
“Bermuda Headquarters has been part of the plan from day one as we move forward on our coverholder application with Lloyd’s in coming months. We appreciate the BMA’s engagement and respect the necessary regulatory steps taken ensuring public interest is protected,” said CEO Glusman.
BDIC Switzerland
Glusman also provided an update on Swiss operations: “The BDIC Zug filing is expected shortly (March) as we complete requirements for compliance in Switzerland where our legal, compliance, and auditing teams are prepared for our planned Token Generation Event May 20th.”
BDIC Hong Kong
Interest in BDIC’s newly formed Hong Kong entity surged in recent weeks, particularly amid volatility in global crypto markets.
“BDIC Hong Kong was contacted by a trusted Asia insurance media outlet to share details of our go-to-market strategy, which will be published soon. We are committed to bringing deposit insurance solutions to the crypto sector in Q4, with Hong Kong leading the BDIC charge,” said Managing Director Kohli.
Kohli also highlighted accelerated discussions with BDIC’s regional affiliate partners:
“The ByBit hack reinforced the need for robust deposit insurance. We’ve been demonstrating how BDIC’s insurance model would have protected clients, safeguarded exchange reputation, and mitigated the FUD domino effect following the breach.”
BDIC Foundation
As BDIC executes its roadmap, the BDIC Foundation is evaluating potential headquarter locations.
“This decision goes beyond tax benefits,” said Glusman. “We are seeking a jurisdiction that aligns with our mission—a community that shares our vision of decentralized deposit insurance forming a strategic partnership that fosters growth, encourages participation, and brings long-term value to both the Foundation and its home.”
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