LONDON, UK / ACCESS Newswire / June 10, 2025 / 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.
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.
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".
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.
Website: www.bdicinsurance.com
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Contact Info:
Investor.Relations@bdicinsurance.com
info@bdicinsurance.com
Marketing Contact Info:
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SOURCE: Blockchain Deposit Insurance Corporation (BDIC)
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