Hailstone Labs, a Hong Kong based Web3 venture studio, has announced a strategic investment in OneDegree Group, a InsurTech company with business across Asia.
Both parties said in a statement on Tuesday that Hong Kong is well positioned to be an international leader in digital economy and digital finance, and the two parties are working together to revolutionize the digitization of assets and industrialization of numbers and data.
This collaboration aims to establish standards, facilitate blockchain technological advancements and development talents in the Web 3.0 sector, the duo said.
For the past two years, Hailstone Labs and the OneDegree Group have collaborated with the Society of Actuaries (SOA) to conduct fundamental research on Web 3.0 risk taxonomy, with an aim to revolutionize the digital asset insurance industry.
As a result of Hong Kong’s latest policy developments in the blockchain and Web 3.0 fields, the duo said obtaining insurance has become a requirement for centralized digital asset firms to operate in Hong Kong and to maintain their status as a regulated entity.
With the assistance of its in-house cybersecurity experts, OneInfinity, they said…
