METACO Partners with OneInfinity by OneDegree for Digital Asset Insurance
- 04.11.2022 09:30 am
OneDegree, the first Asia-headquartered insurer to provide coverage for digital assets, today announces that it has entered into a strategic partnership with METACO, the market-leading provider of digital asset custody orchestration technology. The partnership sees OneDegree provide its pioneering digital wallet insurance product OneInfinity to financial institutions that leverage METACO’s flagship digital asset custody orchestration platform Harmonize™.
METACO enables traditional banks of any size to enter the fast-growing digital asset market. OneInfinity provides peace of mind to these banks and their customers. The combination of bank and insurance offerings will be a driving force to take digital assets to the mainstream market. A recent survey found nearly 40 per cent of banking industry respondents from around the world stated that they may begin providing crypto-asset services to their retail customers in 2022.
Backed by institutional investors such as SC Ventures by Standard Chartered, METACO has established itself as a market-leading digital asset technology provider to Tier 1 banks and regulated financial institutions globally, trusted by flagship custodians such as Citi, BNP Paribas, BBVA, and the Union Bank of the Philippines.
Harmonize enables institutional clients to securely store, trade, issue and settle digital assets, including cryptocurrencies and digital securities, with Tier 1 bank-grade security and compliance standards.
OneDegree will work closely with METACO to tailor tech-enabled digital asset wallet insurance coverage and risk management solutions for its clients in Hong Kong and the broader Asia Pacific region. Leveraging OneDegree’s expertise in crypto insurance and cybersecurity, the partnership is expected to bring best-in-class safekeeping standards to the digital asset ecosystem. Accelerated insurance coverage backed by distinguished cybersecurity expertise and risk management capabilities will create a superior commercial value proposition, uniquely available to those institutions that custody digital assets using METACO’s technology.
Richard Swainston, Business Development Director APAC at METACO, said,
“Institutional adoption of digital assets is seeing exponential rates of growth, both globally and in the Asia Pacific. METACO Harmonize was built with the highest market-rated security standards at its core, and we are proud to see OneInfinity validating its architecture and principles by offering its flagship digital asset wallet insurance product to METACO’s clients. OneInfinity is a pioneer in its field, and its unique service complements METACO’s solution, strengthening its end-to-end value proposition for digital asset custodians.”
Helen Ye, Chief Commercial Officer of OneDegree, added,
“We are delighted to engage METACO in a strategic relationship. Given the evolving nature of the digital asset economy, organizations large or small often struggle to manage the emerging risks in their core businesses. A practical approach to mitigate emerging risks is to identify all the perils and create a robust framework that monitors and leverages insurance. This is exactly where OneInfinity’s tech-enabled insurance solutions can add value both to our clients as well as their end users.”