Hong Kong, 6 September 2023 — HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, has signed a memorandum of understanding (MoU) to form a strategic alliance with OneInfinity by OneDegree, Asia’s sole insurance provider for digital assets. This partnership aims to strengthen investor protection in the digital asset space while supporting the development of Hong Kong’s digital asset market with advanced tech-enabled solutions.
Under the MoU, OneInfinity by OneDegree will work with HashKey Exchange on both hot and cold wallets, with the aim of making OneInfinity digital asset wallet insurance product and other inventive security measures available to investors using HashKey Exchange. Additionally, the two companies have pledged to co-develop new tech-enabled solutions aimed at enhancing digital asset security, and also to explore solutions on server downtime, data back-up as well as load management, thereby providing even more comprehensive assurance to HashKey’s client base.
The collaboration between HashKey Exchange and OneInfinity by OneDegree is a major step for digital asset security in Asia. It extends insurance to secure digital assets, fostering a safer and more reliable investment environment. This partnership plays a crucial role in stimulating the growth of the digital asset market, while advancing technology, security, and service to bolster investor confidence and strengthen protection.
Livio Weng, COO of HashKey Group, said, “At HashKey Exchange, our aim is to set the bar for virtual asset exchanges in compliance, safety, and security. We are delighted to collaborate with OneInfinity by OneDegree, and through this partnership, we aim to further enhance our financial, technical, and service infrastructure to provide our customers with comprehensive protection. Additionally, we look forward to contributing to the growth and long-term development of the virtual asset ecosystem in Hong Kong.
Alvin Kwock, Co-Founder of OneInfinity by OneDegree, added, “As the digital asset economy expands rapidly, businesses grapple with evolving challenges. It is crucial to effectively manage emerging risks within their core operations, and this necessitates identifying and mitigating potential perils by implementing a robust framework that includes insurance. OneInfinity’s tech-enabled insurance solutions are ideally positioned to bring value to our clients and their end users by providing practical and comprehensive risk mitigation.”