According to a report by the South China Morning Post, the insurance technology claims company OneDegree, which allows Hong Kong employees to apply for virtual insurance licenses, has secured a $27 million financing round with participation from Gobi Partners, New World Development, and Bitrock. The new funds will be used to further expand its business in Asia and grow its digital asset insurance portfolio.
OneDegree co-founder Alvin Kwock Yin-lun stated that with the new regulatory regime introduced by the Hong Kong Securities and Futures Commission on June 1, the demand for digital asset insurance is expected to see significant growth in the future. It is anticipated that many virtual asset trading companies will apply for licenses in Hong Kong to provide digital asset trading, and these operators will need appropriate insurance to protect the interests of investors and traders.
Currently, OneDegree has raised a total of over $97 million in financing and had introduced cryptocurrency insurance for the first time in November 2021, providing HK$100 million in insurance for the Hong Kong digital asset exchange.
Original article link: https://bitgaai.com/2023/06/29/xianggangxunibaoxiangongsionedegreewancheng2700wanmeiyuanron/