@CFMLLP
Blockchain Deposit Insurance Corporation (BDIC) establishes a Singapore entity, engages Cole-Frieman & Mallon LLP, and updates BDIC Coin Token Sale timing.
Blockchain Deposit Insurance Corporation (BDIC) has established BDIC SG PTE LTD, which is intended to serve as the company’s primary insurance underwriting hub.
What the announcement covers:
→ Singapore: BDIC will begin regulatory engagement with the Monetary Authority of Singapore (MAS) to write policy coverage directly. Until approval, client coverage will be placed through dedicated insurance cells with network partners.
→ Counsel: @CFMLLP Cole-Frieman & Mallon LLP has been engaged as BDIC’s outside counsel in the United States.
“Insurance is an important marker of a mature market. It is time crypto was properly insured,” said Daniel M. Payne, Partner at Cole-Frieman & Mallon LLP.
→ BDIC Coin: the Token Sale is targeted for Q1 2027. BDIC Coin will be issued by a Cayman Islands foundation and its British Virgin Islands subsidiary, independently of BDIC, once those entities are established.
“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, CEO and Founder of BDIC.
Read the full release: blocktelegraph.io/crypto-insurer…
#CryptoInsurance #DigitalAssets #Singapore #MAS #InsuranceInnovationView quoted post on X
