Blockchain Deposit Insurance Corporation (BDIC) has announced the launch of StableCover Pro, its first institutional crypto insurance product designed specifically for SEC-compliant stablecoins. This move comes as a result of the recent SEC recognition of compliant stablecoins as cash equivalents under their interim guidance. StableCover Pro will provide comprehensive risk coverage for digital currency stablecoins that meet stringent regulatory standards, including full backing by U.S. cash or Treasury bills, guaranteed 1:1 redemption rights, consistent peg maintenance, and independent reserve attestations.
BDIC designed StableCover Pro to align with the needs of sophisticated market participants (mostly institutional and large corporate clients) in the digital finance space. The product aligns perfectly with the emergence of stablecoins as a functional part of corporate treasury operations. The timing is strategic, allowing BDIC to provide this much-needed protection alongside its standard digital currency insurance solution for corporations facing increasing pressure from traditional and blockchain-native assets. Paul Kohli, MD of PanAsia and Co-Founder of BDIC, emphasized that the product addresses a critical gap in the market by offering the same confidence and operational protection institutions expect when holding fiat or sovereign debt, now applied to digital dollars.
The insurance company plans to expand its reach globally with offices opening in the Caribbean and partnership initiatives with Sovereign Fund partners. Further details regarding the expansion plan, including product delivery timeline and infrastructure partners, were announced recently.
StableCover Pro is positioned to accelerate institutional adoption of stablecoins as a legitimate and trusted tool for risk mitigation.