Mr. McCarthy is a Senior Strategic Consultant for RWA Assets to BDIC Insurance and COO of BDIC RWA Consulting, the consulting arm of BDIC Insurance, advising clients on the digitalization/tokenization of real-world assets as financial instruments and asset management.
Blockchain Deposit Insurance Corporation (BDIC), in partnership with Lloyds of London, is the world’s first decentralized cryptocurrency insurer, designed to protect digital currency wallet holders from exchange failures and cyber exploits.
Exchange/platform hacks such as unauthorized access, system vulnerabilities, smart contract failures, theft of customer funds, protection against employee/insider theft.
Cybersecurity incidents such as ransomware attacks, social engineering fraud, phishing attacks, employee negligence.
Hot wallet coverage including funds stored in actively trading/online wallets, protection against hacks and unauthorized transfers, coverage for operational errors by exchange.
Cold storage coverage including protection for funds in offline storage, physical security breaches, hardware wallet failures
NOT Covered under a BDIC insurance policy: market value fluctuations, lost passwords/keys due to user error, intentional acts of fraud by the insured, known vulnerabilities that weren’t addressed, unauthorized trading losses, government seizures.
Cryptocurrency Exchanges approved for BDIC include Binance, Kraken, OKX, KuCoin, ByBit, Crypto.com, Huobi Global, Bitstamp, Bitmex, WhiteBit, Mexc Global, Bitget.
BDIC Approved Wallets include Ledger Nano X, Trezor Model T, Ledger Nano S Plus, SafePal S1, KeepKey.
BDIC Covered Digital Currencies include BTC, ETH, SOL, BNB, XRP, USDT, USDC, ADA, DOT, LINK, MATIC, UNI, LTC, BCH.
Stable Coin Pro is a BDIC specialized insurance solution designed exclusively for institutions holding SEC-compliant stablecoins that qualify as cash equivalents under the 2025 SEC guidance.
Blockchain Deposit Insurance Corporation is normalizing cryptocurrency by creating a safe environment for everyday use providing deposit insurance for cryptocurrency wallets.