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Hong Kong's OneDegree To Provide $100M In Insurance For The Crypto Exchange HKbitEX

Mary Liu

Summary: According to the South China Morning Post, Hong Kong's virtual insurance company OneDegree has reached a cooperation with HKbitEX, a digital asset exchange Headquartered in Hong Kong.  OneDegree will provide HKbitEX with up to $100 million of insurance to ensure its customers are protected from theft and hacker attacks.  OneDegree, whose mission is to promote the wider ...

According to the South China Morning Post, Hong Kong's virtual insurance company OneDegree has reached a cooperation with HKbitEX, a digital asset exchange Headquartered in Hong Kong. 

OneDegree will provide HKbitEX with up to $100 million of insurance to ensure its customers are protected from theft and hacker attacks. 

OneDegree, whose mission is to promote the wider use of insurance technology, is one of the four virtual insurance licensees in Hong Kong. This cooperation will make it the first insurance company in Asia to underwrite digital assets. 

Ken Lo, the co-founder of HKbitEX, said that the next step for the virtual asset industry in Hong Kong will be to introduce more institutional capital into the crypto space.

By Mary Liu

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