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(BDIC) Blockchain Deposit Insurance Corporation Executive Update: Cryptocurrency Deposit Insurance Startup BDIC Taps Enterprise Software Veteran As CTO

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5 months ago

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Blockchain Deposit Insurance Corporation (BDIC), the first to market providing cryptocurrency deposit insurance for digital currency wallets and crypto exchanges, announced today that Oliver Pluckrose has accepted the company’s offer to become the Chief Technology Officer. BDIC confirmed the role, bringing on the seasoned enterprise software executive amidst international expansion in PanAsia, Latin America and Europe as the cryptocurrency deposit insurance provider prepares for product delivery and token offering in Q4. 

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AVAMAE Founder Oliver Pluckrose Brings Deep Software Architecture Expertise & Leading Technical Vision To BDIC For Decentralised Crypto Deposit Insurance

It appears as though BDIC has found the right person for the CTO job. Pluckrose is the Founder of AVAMAE Software Solutions, headquartered in London, where he has spent over 25 years developing enterprise software systems and a reputation for excellence in the industry. Under Pluckrose’s leadership, AVAMAE has grown to 45 engineers and completed more than 200 software projects for global clients in fintech, healthcare and other sectors specializing in Microsoft technologies and Azure cloud infrastructure. 

As the CTO for BDIC, Pluckrose will oversee the technical infrastructure buildout for the BDIC decentralized deposit insurance platform, interfacing with multiple digital wallet platforms and crypto exchanges. Pluckrose and the Avamae team will be working closely with newly appointed Board of Advisors tech visionary James Owens, who was announced by BDIC in recent weeks. BDIC’s vision to normalize everyday use of digital currency, combined with the expertise of its leadership, points to a strong technical product and a robust platform for users.

jhj 1 (BDIC) Blockchain Deposit Insurance Corporation Executive Update: Cryptocurrency Deposit Insurance Startup BDIC Taps Enterprise Software Veteran As CTO Oliver Pluckrose, Avamae Software Solutions Ltd. London, England photo 2o25

Pluckrose’s technical philosophy centers on optimizing workflows and engineering efficient, event-driven architecture. His passion for microservices and automation has helped legacy organizations modernize their software stacks and improve internal performance, a point of consideration for him when taking on the BDIC project. Beyond engineering capabilities, Pluckrose is a strategic advisor to SMEs, helping them align software development with business growth and has brought that mentality and additional aspect to the BDIC business planning, already creating efficiencies for delivery at the consumer level as his international experience clearly shows.

The appointment of the CTO comes at a pivotal time, as BDIC’s Hong Kong operations—led by Paul Kohli—advance efforts to secure regulatory approval as an insurance provider and pursue coverholder status with Lloyd’s of London. Additionally, BDIC plans to launch their native utility token (used for payments, settlements and governance and other features) as part of an initial coin offering with the planned token generation event in Q4 2025.

vkhh (BDIC) Blockchain Deposit Insurance Corporation Executive Update: Cryptocurrency Deposit Insurance Startup BDIC Taps Enterprise Software Veteran As CTO

When asked about the new BDIC CTO, the PanAsia MD and Co-Founder Kohli reacted sharing results on Pluckrose to date: “Our regions crypto exchange affiliate partners and their technical teams are very encouraged with our ability to integrate, confirm mutual security protocols and build together as we deliver BDIC to the market in coming months. Oliver is great at open communication and very detail oriented, important character qualities to have for what we need moving forward” said Kohli.

BDIC’s platform go to market focuses in Hong Kong/PanAsia in Q4 and then into Latin America (Q1 2026) followed by Europe (Q2 2026).  BDIC addresses a key concern for both retail and institutional users: deposit insurance for cryptocurrency. The goal is to make daily crypto use safer and more accessible through affordable coverage. Thus far, the company says indication of interest engagement from the wallet providers and exchange users is very encouraging. BDIC is expecting enrollment numbers to be respectively high when the window opens toward the end of summer for onboarding. 

Part of that GTM strategy involves building the BDIC brand. In that light, the company brought on the Agency of Record 3Point0 Labs recently to bolster brand awareness and deal flow. The incoming interest from new wallet platforms and exchanges has been the short term result of the partnership since announced, company representatives also anticipate new marketing relationships which will further enhance the BDIC reputational build announced as well.

On the technical side, one question asked was regarding how the company uses smart contracts and dual tier risk-scoring algorithms to assess and price quote coverage for wallet users. Representatives at BDIC said when researching data specific to wallet balances, in order to consider establishing coverage bands associated with the focus on the daily use of “hot” wallets, statistics showed the average hot wallet value of approximately $6,300 USD at that time globally.

The result was BDIC building a platform covering between 0-10 thousand USD for standard coverage and 10-20 thousand USD for preferred coverage for the retail wallet clients. Wallet platforms and exchanges offering coverage as affiliate partners may provide different band coverage levels based on programs available at issuance.  

The crypto deposit insurance provider’s CEO knows the choice on Pluckrose was an important one for the company as when asked about the decision, his response detailed the qualifications of the role going forward:

“The CTO selection process required patience and diligence, finding someone with not just blockchain knowledge, but deep experience in systems architecture, compliance, scalability…while also being a forward facing CTO, a big ask for the role, as interacting with our international partners effectively is key” said Jeffrey A. Glusman, BDIC’s Chief Executive Officer and Co-Founder, “Oliver has that rare mix of technical precision and product vision so we’re not just building innovative tech—with his track record on delivery and reputation, BDIC will deliver a decentralized infrastructure that meets institutional expectations, beyond the basic industry standards. This is a big win for the company”.

hvsdhv (BDIC) Blockchain Deposit Insurance Corporation Executive Update: Cryptocurrency Deposit Insurance Startup BDIC Taps Enterprise Software Veteran As CTO

The cryptocurrency deposit insurance market remains nascent, with traditional insurers largely avoiding direct coverage of digital assets due to regulatory uncertainty and volatility concerns. While several startups have tried to emerge to fill the gap over the last decade, most failed due to lack of execution and leadership, but all failed to deliver the solution that the market was ready to adopt at the right time. BDIC identified a few insurance companies in the digital currency space, they provide niche coverage for Bitcoin of specific levels and require keys to be held, ultimately defeating the purpose of crypto: control and custody. BDIC is not trying to work against the purpose of crypto, but to enhance it so it can be embraced with confidence, providing deposit insurance. Not custody. Not key access and control. It is refreshing to think how it compliments the original intentions of Bitcoin, allowing for comfort in self custody. 

Pluckrose said he was drawn to BDIC’s potential to establish new standards for digital asset protection. “This is not just building a product—we’re creating a new global standard for crypto deposit protection for the digital currency market which has a true need for the BDIC solution,” he said.  

As Pluckrose and the Avamae tech team push forward on the MVP build (in month 3 now), BDIC says it will continue to announce C-suite appointments for the CMO, COO, CIO, CISO as well as Advisory Board designations, third party advisors and strategic partnerships with wallet providers and exchanges leading towards product delivery. The anticipation since the launch in January is palpable as the crypto market awaits news about BDIC leading up to Q4 with high expectations the commercial grade MVP will be ready for onboarding directly and through affiliate partner platforms at that time. 

“The collaborations we are currently working on within the crypto community are amazing for the users, providing additional security with high caliber institutions and access alongside our solution with mainstream wallets and exchanges. I think our product will be the difference maker in adoption overall” said Pluckrose emphatically. “Digital currency and digital asset insurance coverage needs are not a thing of the future, they are real time which BDIC Insurance will deliver.”

Wallet providers already approved by BDIC, along with the digital currencies that are insurable on the platform, are available to be reviewed on the company website www.BDICinsurance.com. In speaking with representatives for BDIC, suggestions that new wallet platforms, crypto exchanges, additional coins and real world asset projects BDIC is collaborating with will be added to the website soon alongside corresponding press releases.

“The interest globally in a supplemental crypto deposit insurance solution has become something not just regulators want, but wallet platforms and exchanges have demonstrated willingness to subsidize the cost for the users” said Glusman, who continued “and we see similar strengthening of adoption as was in the advent of FDIC for banking and SIPC for investing, as regulators understand the correlation between insurance, acceptance and adoption” as the CEO referenced other periods of fear and concern in past financial markets. The point of interest has merit considering the data provided by Web3 security firm CertiK reported by CoinTelegraph recently coupled with the now known Coinbase hack, ByBit incident and reported $2 billion already stolen in 2025 by hackers as the shift to “user phishing” opportunity over “cracking code” adds credence to the BDIC model.

The additional component of crypto deposit insurance to be considered is the fact that the adoption curve of digital currency use in daily life is outpacing the adoption of the credit card and internet, both which had periods of initial interest followed by boom adoption in very short periods of time. BDIC seems to be positioned to take advantage of being first to market in the infancy of the current associated boom cycle in crypto adoption, which has been paired with significant hacking and theft numbers that have been growing annually the last 5 years.

BDIC CEO Glusman also said today’s CTO news will be followed up with new executive hires that directly focus on these security concerns in the next month beyond the  appointment of Pluckrose, specifically the Chief Information Security Officer (CISO). In addition, BDIC is stepping up the implementation of key protection measures as well as stress testing of affiliate partner platforms as well as using solutions by industry security firms to encrypt keys, protecting against internal and external threats respectively. 

“Oliver will work with the incoming CISO and together will bring the industry expected security ratings and protocols with additional steps taken to provide transparency and insight into the BDIC security infrastructure, brand and reputational build going forward” reiterated Glusman who continued “These have been the key components of our mission statement since inception”.

BDIC has a commitment in showing the industry and consumers that crypto deposit insurance is viable, affordable, and that BDIC  built it with the consumers in mind to reduce the concerns for mass adoption globally. The company is also taking further steps in this regard through its BDIC Pledge Initiative and BDIC Foundation to promote crypto ecosystem safety through deposit insurance long term. Company information on AVAMAE, CTO Pluckrose and BDIC for follow up interest are below for reference. Company representatives pointed towards expected follow up news likely next week.

About Oliver Pluckrose and AVAMAE

Oliver Pluckrose has had a 25-year career dedicated to crafting efficient software systems for a wide variety of clients in a wide range of business sectors. His main role aside from Founder at AVAMAE Software Solutions Ltd revolves around transforming complex business challenges into custom-built, secure, and scalable software solutions. Leveraging his expertise in Microsoft technologies, he leads a talented team of 45 staff, ensuring the bespoke software solutions maximize client operational efficiency through innovative use of the Microsoft .NET stack and Azure services.

Beyond AVAMAE, Oliver delivers consultancy work internationally guiding SMEs to optimize legacy software and in-house team performance. This includes projects like Microsoft Dynamics configurations and strategic advising on team structures. His approach is rooted in a commitment to new business development and fostering strong customer relationships, aiming to deliver exceptional software craftsmanship that powers business success.

Oliver has experience in multiple sectors, including but not limited to FinTech, iGaming, Healthcare, and AgriTech and lives in London, England.

About Blockchain Deposit Insurance Corporation

Blockchain Deposit Insurance Corporation (BDIC) is the first decentralized cryptocurrency deposit insurer, offering cutting-edge security solutions for digital asset holders. By leveraging blockchain-powered smart contracts and risk assessment algorithms, BDIC provides institutional-grade insurance to safeguard cryptocurrency investments worldwide with offices currently in Central District, Hong Kong and opening locations in additional jurisdictions with Insurance and Foundation Headquarters, Latin America and Europe offices expected in Q4.

The Press Release (BDIC) Blockchain Deposit Insurance Corporation Executive Update: Cryptocurrency Deposit Insurance Startup BDIC Taps Enterprise Software Veteran As CTO appeared first on Pinion Newswire.

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Zoomex Officially Joins CODE VASP Alliance

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19 hours ago

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November 7, 2025

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Mahé, Seychelles (PinionNewswire) —

November 7, 2025 — Global cryptocurrency exchange Zoomex today announced that it has officially joined the Korea CODE VASP Alliance (Connect Digital Exchanges) and completed integration with the Travel Rule compliance system. This key technological integration marks Zoomex’s adherence to the security and transparency standards required under FATF travel rule framework for digital asset transactions.

The CODE VASP Alliance was established in 2022 to help Virtual Asset Service Providers (VASPs) meet Travel rule compliance. Through this system, exchanges can securely transmit encrypted sender and receiver identity information during asset transfers, aligning with international standards set by the Financial Action Task Force (FATF).

zoomex Zoomex Officially Joins CODE VASP Alliance

“For us, compliance is not just a procedural requirement — it’s a foundation of trust.” — Zoomex CEO
“Successfully completing the technical integration with the CODE system is a vital step toward ensuring transaction security and enhancing information transparency. It also reflects our ongoing commitment to strengthening our infrastructure.”

This collaboration not only enhances transaction security and system transparency but also provides users with a stable and trustworthy trading environment tailored to the global market.

In addition to joining CODE, Zoomex holds multiple regulatory licenses, including Canada MSB, U.S. MSB, U.S. NFA, and Australia AUSTRAC, and has successfully passed a security audit by Hacken, a leading international cybersecurity firm. Zoomex remains committed to building a more reliable, transparent, and compliant digital asset trading ecosystem.

About Zoomex
Founded in 2021, Zoomex is a global cryptocurrency exchange serving over 3 million users across 35+ countries and regions, offering more than 600 trading pairs. Guided by its core values of “Simple × Intuitive × Fast,” Zoomex delivers millisecond-level trade execution and a seamless user experience through its optimized matching engine and minimalist interface.
As the official partner of the Haas F1 Team and exclusive global brand ambassador Emiliano Martínez (World-Class Goalkeeper), Zoomex extends the speed and precision of the racetrack into its trading services.

About the Korea CODE VASP Alliance
The Korea CODE VASP Alliance is a consortium of leading Korean cryptocurrency exchanges dedicated to advancing compliance and regulatory standards in the digital asset sector.
The alliance promotes the adoption of the CODE Travel Rule solution, ensuring transparency and traceability in crypto transactions in line with global anti–money laundering (AML) and counter-terrorist financing (CTF) standards.
Its mission is to foster a safer and more reliable crypto environment for users and industry stakeholders alike.

 

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Alona Lebedieva: Reparation Bonds — A Path to Using Frozen Russian Assets for the Benefit of Ukraine

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19 hours ago

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November 7, 2025

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Kyiv, Ukraine (PinionNewswire) —

Frozen billions: a source of resources and political debate

20251015a Alona Lebedieva: Reparation Bonds — A Path to Using Frozen Russian Assets for the Benefit of Ukraine

The full-scale war launched by the Russian Federation against Ukraine has been ongoing for more than three and a half years. During this time, the West has frozen a colossal volume of Russian state foreign currency reserves — about USD 300 billion.

Without exaggeration, this is the most effective Western sanction, as otherwise Russia could have used this money to wage war against Ukraine. Of this amount, over EUR 200 billion is held in European Union countries, with the remainder in G7 states such as the United Kingdom, Japan, Canada, the United States, as well as in Switzerland.

The largest portion of these assets is concentrated in Belgium: approximately EUR 190 billion of the Russian Central Bank’s assets — nearly two thirds of all frozen reserves — are held at the Brussels-based securities depository Euroclear. At the same time, these funds are not simply lying dormant. Financial institutions place them in risk-free deposits at central banks and receive interest income.

Due to high rates in recent years, the frozen Russian billions have generated significant excess profits. In 2023 alone, Euroclear earned about EUR 4.4 billion in interest on Russian assets, and in 2024 this amount grew to nearly EUR 7 billion. Formally, this income does not belong to Russia but to the financial intermediaries themselves, as sanctions prohibit transferring interest to the actual owner.

European countries support Ukraine by directing a significant part of the interest earned from the immobilised sovereign Russian assets to Kyiv. However, they also face their own economic difficulties and domestic political resistance, as taxpayers are unwilling to directly finance support for Ukraine. To reduce pressure on national budgets, more and more politicians are inclined to use frozen Russian sovereign assets as the main source of financing assistance for Ukraine. At the same time, EU countries justifiably avoid confiscating these assets, as such a step would inevitably lead to lawsuits from Russia — and the outcome of such cases is difficult to predict.

From interest to loans: the evolution of the Western approach

Throughout 2023–2024, Western states reached an understanding that at least the interest income from frozen reserves should be directed to support Ukraine. In October 2024, the G7 countries agreed on a joint mechanism — Extraordinary Revenue Acceleration loans (ERA-loans) — amounting to USD 50 billion.

Under this scheme, allies provide loans to Ukraine now (in total, under the ERA instrument, the Ministry of Finance has already raised EUR 14 billion from the European Union), and repayment will be made from future income generated by the placement of frozen Russian assets. The G7 established that this excess income is not part of the reserves themselves and therefore is not protected by Russia’s sovereign immunity. This opened the possibility of using it without violating international law.

The European Union soon introduced corresponding regulation: since early 2024, European depositories have been prohibited from disposing of the excess income independently, and the EU Council obtained the authority to direct part of these funds to support Ukraine. This compromise became the first practical step towards ensuring that frozen Russian assets begin to work to the benefit of the victim of aggression.

The reparation bonds mechanism: a creative alternative to confiscation

Despite the success in using interest, the question of the principal amount of frozen assets remained unresolved. Direct confiscation of Russian reserves faces legal obstacles, as a state’s sovereign funds are protected by international law. This is why in 2025 the EU began to consider a new idea — a reparation loan.

However, implementation of this idea is currently stalled: EU member states have not yet agreed on a single legal model. The most difficult aspect is the position of Belgium, where most of the assets are held. Prime Minister Bart De Wever publicly stated that he would support the plan only if there are clear legal guarantees of the scheme’s legality, collective risk-sharing between all EU member states, and the involvement of other G7 members. Brussels is wary of a situation in which sanctions are lifted, and Russia demands the return of reserves already used to support Ukraine. It should be noted that if one imagines being the head of the Belgian government acting in the interests of one’s own country, such a position is entirely understandable.

Most European countries — including Germany, France, Italy, Sweden, Poland, and the Baltic states — support the creation of a reparation loan. At the October 2025 summit, EU leaders (with the exception of Hungary) agreed in principle that Russian assets must remain frozen until aggression ends and compensation is paid.

Russia is predictably reacting strongly negatively to these plans, calling them “theft” and “piracy.” It is preparing legal claims, but their chances of success are minimal. A consensus is emerging at the international level: a state that has launched aggression cannot count on the inviolability of its financial reserves.

Nevertheless, the EU continues to work on the technical parameters of a scheme that would allow unlocking financing without direct confiscation of assets. The concept is that the G7 and EU countries would sign an international agreement fixing the intention not to unfreeze Russian assets until compensation for damage caused to Ukraine is paid. Based on this agreement, a Ukraine Recovery Fund would be established, with member states and Ukraine itself as founders. Banks holding the frozen assets would issue bonds for the Fund in an amount equivalent to these assets, secured by them, and at a minimal interest rate — for example, 0.1% per annum — and provide these funds to Ukraine.

The resources received would be directed by the Fund to finance the recovery and development of the Ukrainian economy, acting as a coordinator and controller of the targeted use of funds. This approach resembles a modernised “Marshall Plan” that combines financial assistance with transparent oversight mechanisms.

The scheme would avoid what the “collective West” fears — Russian assets would not be confiscated, and there would be no formal link between them and the funds provided to the Fund, as the money is transferred to Ukraine through bonds issued by the banks holding the frozen Russian assets. Meanwhile, Ukraine could access the funds in a fairly short timeframe.

If Russia eventually agrees to pay reparations, these funds would be credited to the Fund’s account and directed towards repayment of the loans. If not, the loans effectively become perpetual, and the frozen assets gradually lose real value.

Reparation bonds as a preventive security mechanism

If the EUR 140 billion reparation loan plan is approved, Ukraine would receive approximately EUR 45 billion annually in 2026–2028. This is a significant sum, capable of covering a substantial portion of defence, social, and infrastructure needs.

However, if the direct loan mechanism does not work — and there are preconditions to believe this — attention should shift to the reparation bonds mechanism proposed in this article, which may have a better chance of implementation.

Still, the significance of providing funds to Ukraine goes far beyond financial calculations.

In fact, this could be the first case in which the international community compels an aggressor to pay during an ongoing war (unlike the situation when Iraq paid reparations to Kuwait — payments began only after the war ended). Reparation bonds transform frozen assets from an instrument of leverage into a source of accountability and justice.

If implemented, the mechanism may become not only a financial solution but also a strategic precedent that will reshape the international security architecture. It will demonstrate that no state can avoid punishment for aggression, and its currency reserves will no longer guarantee immunity. This is precisely how Europe can prevent new wars and stop Russia from further attacks on neighbouring countries.

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Point72 Launches AI-Powered Financial System in Indonesia Under the Leadership of Mr. Cheong Jin Hui

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20 hours ago

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November 7, 2025

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Indonesia (PinionNewswire) —

Point72, a global asset management firm, announced the official launch of its AI-powered financial system in Indonesia, led by Mr. Cheong Jin Hui, Head Representative of Indonesia. The new system is designed to strengthen the firm’s local investment capabilities, offering clients more precise analytics, predictive modeling, and real-time risk monitoring tailored to Indonesia’s rapidly evolving market.

The platform utilizes machine learning, natural language processing, and real-time market intelligence to identify investment opportunities and manage portfolio risks more effectively. This innovation marks a major step in Point72’s long-term strategy to integrate artificial intelligence into every aspect of its global operations — from research and trading to client advisory and compliance oversight.

“AI is transforming how we understand markets,” said Mr. Cheong Jin Hui. “By bringing Point72’s advanced AI technology to Indonesia, we’re equipping local investors and institutions with tools that combine data-driven intelligence with human expertise. Our goal is to help clients make faster, smarter, and more confident decisions.”

Point72’s AI system also features an adaptive analytics engine that continuously learns from market patterns, enhancing forecasting accuracy and portfolio resilience. With this deployment, Point72 aims to position Indonesia as one of the firm’s key innovation hubs in Southeast Asia, driving growth through technology and talent collaboration.

About Point72

Point72 is a global asset management firm that invests in multiple asset classes and strategies worldwide. The firm combines deep fundamental research, advanced analytics, and cutting-edge technology to deliver long-term value for its clients. Headquartered in Stamford, Connecticut, Point72 operates across North America, Europe, and Asia.

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