BDIC HK LTD has announced the launch of StableCover Pro — the first institutional crypto insurance designed for stablecoins compliant with SEC guidelines.
Launch of StableCover Pro
BDIC (Blockchain Deposit Insurance Corporation) has unveiled StableCover Pro, the first insurance product for stablecoins recognized as cash equivalents. BDIC PanAsia's Co-Founder and Managing Director, Paul Kohli, noted that StableCover Pro was crafted with institutional clients in mind. He mentioned, "With this launch, BDIC has further solidified its position as a leading insurance infrastructure provider for the evolving digital finance landscape."
New Standard for Digital Asset Protection
The core protection package of StableCover Pro includes reserve failure coverage, redemption guarantee for institutional holders, and regulatory compliance protection. Kohli stated that the product targets large clients like Fortune 500 companies and commercial banks aiming to integrate stablecoins into their financial operations.
Stablecoin Market and Risks
Kohli also pointed out the transition of stablecoins from speculative trading tools to essential financial infrastructure. He emphasized that risk protection is essential. BDIC's founder and CEO, Jeffrey Glusman, added that the launch of StableCover Pro addresses a critical gap in the market aligning with the new regulatory requirements. He stated, "The SEC’s recognition of compliant stablecoins as cash equivalents is a watershed moment in financial regulation globally."
The launch of StableCover Pro signals a growing interest and need for protective mechanisms for digital assets, which may accelerate the adoption of stablecoins in the corporate sector.
