According to the South China Morning Post, OneDegree, an insurance technology claims company that allows Hong Kong workers to apply for virtual insurance licenses, has raised $27 million in funding. Investors in this round include 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.
Alvin Kwock Yin-lun, co-founder of OneDegree, stated that the demand for digital asset insurance is expected to experience significant growth following the launch of new regulatory measures by the Hong Kong Securities and Futures Commission on June 1. It is anticipated that many virtual asset trading companies will apply for licenses in Hong Kong to provide digital asset transactions, 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 funding and previously launched cryptocurrency insurance in November 2021, providing HKD 100 million in insurance coverage for Hong Kong digital asset exchanges.
Original article link: https://bitgaai.com/2023/06/29/xianggangxunibaoxiangongsionedegreewancheng2700wanmeiyuanron/