Hashkey Exchange Hong Kong Collaborates with OneDegree to Provide Insurance Coverage for Digital Assets
Summary:
Hashkey Exchange Hong Kong partners with OneDegree to offer insurance protection on digital assets, including both hot wallets and cold storage addresses. The initiative aims to enhance security for users and contribute to Hong Kong's digital asset ecosystem. Hashkey became the first cryptocurrency exchange to be licensed by the Securities and Futures Commission in Hong Kong. The exchange currently supports Bitcoin and Ethereum trading and accepts fiat deposits in USD and HKD. Insurance coverage for exchange users has been a topic of discussion in the industry.
Hashkey Exchange Hong Kong has entered into a partnership with fintech firm OneDegree to offer insurance coverage on digital assets stored on its platform. The insurance policy will protect both hot wallets and cold storage addresses. This move aims to enhance the security and protection measures for customers and contribute to the digital asset ecosystem in Hong Kong. OneDegree co-founder, Yanlin Guo, emphasized the importance of insurance in mitigating risks associated with cryptocurrencies. Earlier this year, Hashkey became the first cryptocurrency exchange to be granted a regulatory license by Hong Kong's Securities and Futures Commission, allowing it to serve retail investors. Despite its recent trading debut, the exchange's trading volume remains relatively low. Currently, Hashkey users can only trade Bitcoin (BTC) and Ether (ETH), while margin trading and crypto derivatives trading are not yet available. The exchange welcomes fiat deposits in both U.S. dollars and Hong Kong dollars from authorized financial institutions globally. Insurance coverage for exchange users has been a subject of debate in the industry, with some exchanges offering limited protection and others providing comprehensive insurance programs.
Published At
9/6/2023 6:00:00 PM
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