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Hong Kong virtual insurer partners with exchange, brings crypto insurance to Asia
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In an industry riddled with frequent scams and hacks, the protection of investments is paramount for investors. In fact, the need for cryptocurrency asset insurance has been in the cads for a while now.
Risk concerns often deter institutional investors from putting their capital in the asset class. To solve this, prominent financial players in Hong Kong are coming up with crypto-insurance opportunities for the first time in Asia.
Hong Kong virtual insurer OneDegree partnered with cryptocurrency exchange Hong Kong Digital Asset Exchange (HKbitEX) to offer insurance for cryptocurrencies, according to a report by South China Morning Post (SCMP).
OneDegree aims to promote the wider use of insurance technology. It will offer HKbitEX up to $100
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