Hong Kong-based digital asset exchange HashKey Global and OneInfinity by OneDegree, a cybersecurity and insurance provider, have on Tuesday announced a strategic partnership aimed at strengthening the Web3 and cybersecurity realms.

The collaboration with HashKey Global will provide digital asset wallet insurance with coverage exceeding $4 billion in the upcoming policy year, the duo said in a statement.

OneInfinity by OneDegree will collaborate with HashKey Global to provide digital asset wallet insurance for both hot and cold wallets.

This initiative aims to both enhance investor protection while delivering cutting-edge security measures for users of HashKey Global’s platform.

“Investor protection in the digital asset custody space is paramount, especially as the industry grows to a wider mainstream audience,” said Ben El-Baz, Managing Director of HashKey Global.

“Through this strategic alliance with AIFT, we are committed to adding additional protections to our platform that not only safeguard investors but also support the growth of the global digital asset market,” he added.

Alvin Kwock, Co-founder of OneInfinity by OneDegree, said they are excited to join forces with HashKey Group to address the escalating cybersecurity challenges faced by the Web3 ecosystem.

“Together, we are well-positioned to drive innovation and resilience in this dynamic landscape,” he added.

According to the statement, the Hashkey Global and OneInfinity by OneDegree partnership signifies a concerted effort to propel advancements in Web3 technologies while reinforcing cybersecurity measures.

As they embark on this journey together, they are committed to shaping a more secure and robust digital future.

HashKey Global is the flagship digital asset exchange under HashKey Group, offering licensed digital asset trading services to users worldwide.

The firm has becomes one of the fastest-growing crypto exchanges in 2024.

HashKey Global has obtained a license from the Bermuda Monetary Authority providing mainstream trading and service products such as LaunchPad, contracts, leverage, etc.

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).

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