Hailstone Labs has reached a strategic investment partnership with insurtech company OneDegree to promote the development of the digital asset industry
Both parties will carry out comprehensive strategic cooperation in the field of Web 3.0, including blockchain, digital currency, and virtual assets.Author: Hailstone Labs
Hong Kong Web 3.0 incubation organization Hailstone Labs announced the completion of a strategic investment in the insurtech company OneDegree Group, which operates across Asia. The two parties will engage in comprehensive strategic cooperation in the Web 3.0 fields such as blockchain, digital currency, and virtual assets.
Over the past two years, Hailstone Labs and OneDegree Group's OneInfinity by OneDegree have closely collaborated with the American Academy of Actuaries to bring revolutionary changes to the digital asset insurance industry. In response to Hong Kong's policies in the blockchain and Web 3.0 sectors, centralized digital asset platforms have certain insurance protection requirements to maintain their operations and ensure the safety of user funds. OneInfinity provides virtual asset insurance services, offering tailored risk management solutions to virtual asset service providers to help them address a range of security risks.
Raymond Wong, CEO of Hailstone Labs, stated, "We are pleased to reach a strategic partnership with OneDegree to contribute to the blockchain ecosystem in Asia and promote the development of the digital asset industry."
Alvin Kwock, co-founder and CEO of OneDegree Group, believes that traditional insurance companies are often reluctant to take on more digital asset risks. In contrast, OneDegree has deployed in this industry years ago and has conducted in-depth research and analysis on the risks of the digital asset sector. The collaboration with Hailstone Labs can promote the development of the blockchain industry and bring a positive impact to this field full of opportunities and hope.
About Hailstone Labs
The Hailstone Labs team spans five countries globally, with over 60 members, gathering top engineers, designers, operators, and industry veterans from around the world. They are dedicated to exploring and incubating Web 3.0 technologies and applications, promoting technological iteration and project pioneers, and enhancing the overall economic efficiency of the industry.
About OneDegree Group
Founded in 2016, OneDegree Group aims to push insurance to the next frontier and make a positive impact on consumers and businesses. As a leading insurtech company, we are committed to transforming the insurance industry through cutting-edge technology, cybersecurity, and digital asset expertise. OneDegree Group operates multiple businesses in Asia and globally.
OneDegree HK is a virtual insurance company regulated by the Hong Kong Insurance Authority, directly offering leading products in pet insurance, fire insurance, home insurance, and health insurance to consumers. Through OneDegree Global, a Singapore tech company, we develop innovative insurance core technology systems IXT and cybersecurity solutions Cymetrics, serving insurance companies and intermediaries worldwide. In the digital asset field, OneInfinity provides groundbreaking insurance solutions for Web3 wallet theft, cybersecurity breaches, fraud, third-party crimes, and corporate liability, fostering trust in the digital asset ecosystem and achieving growth and security in the digital asset industry. In June 2023, OneDegree Group announced the successful completion of a $55 million Series B financing, continuing its commitment to innovation and industry leadership.
