HashKey Exchange, Hong Kong’s licensed virtual asset exchange, has officially closed the deal with OneInfinity by OneDegree, a licensed insurer for digital assets in Asia.
The duo said in a statement on Thursday that OneInfinity by OneDegree will provide insurance cover for digital assets stored in both hot wallet and cold wallet for HashKey Exchange, providing comprehensive coverage for investors.
They will also explore solutions on server downtime, data back-up as well as load management, thereby providing even more comprehensive assurance to HashKey’s client base.
“At HashKey Exchange, our aim is to set the bar for virtual asset exchanges in compliance, safety, and security,” said Livio Weng, Chief Operating Officer of HashKey Group.
According to him, getting insurance cover from OneInfinity by OneDegree not only fulfils the requirements of the Securities and Futures Commission.
“We look forward to contributing to the growth and long-term development of the virtual asset ecosystem in Hong Kong together with our friends at OneInfinity by OneDegree,” he added.
Alvin Kwock, Co-Founder of OneInfinity by OneDegree, added the firm is honored to support HashKey Exchange, the licensed virtual asset exchange in Hong Kong, with digital wallet protection.
“OneInfinity’s tech-enabled insurance solutions are ideally positioned to bring value to our clients and their customers by providing practical and comprehensive risk mitigation,
HashKey Exchange is Hong Kong’s licensed virtual asset exchange for retail users.
The firm has recently received approval from the Securities and Futures Commission (SFC) of Hong Kong to operate a virtual asset trading platform under Type 1 (dealing in securities) licence and Type 7 (providing automated trading services) licence.
As HashKey Group’s exchange business, HashKey Exchange provides all-in-one trading services for both professional investors (PI) and retail investors.
OneInfinity by OneDegree offers tech-enabled digital asset insurance and risk management solutions globally.
The firm offers insurance to end-to-end digital asset players, including trading platforms, custodians, asset managers, banks, family offices and technology providers.
OneInfinity is enabled by cybersecurity technology offered by Cymetrics, a sister company of OneDegree.
Its solutions include digital asset wallet insurance (crime, and specie) and corporate liability coverages (professional indemnity, directors and officers, investment management and cyber).