BitGo, the global digital asset provider, has joined forces with OneInfinity by OneDegree, a Hong Kong-based digital asset insurance and security solution provider, for digital asset custody risk management in Japan.
The duo said in a statement on Tuesday that BitGo is collaborating with OneInfinity by OneDegree to offer customers utilizing BitGo’s self-custody product access to cutting-edge digital asset custodial risk management solutions.
This strategic alliance marks a significant advancement in the Japanese market, providing unparalleled security and peace of mind for digital asset holders, with plans to extend these benefits globally.
The partnership is timely following events in the past year that resulted in a substantial loss in terms of tens of billions in Japanese Yen.
BitGo and OneInfinity plan to mitigate these risks for the Japanese market signifying a pivotal moment in the evolution of digital asset custody solutions, and reinforcing the commitment to security, innovation, and reliability in Japan’s digital asset economy, before rolling out the partnership worldwide.
“We are thrilled to partner with OneInfinity by OneDegree to bring a new level of security and confidence to the digital asset landscape in Japan, with a clear vision for global expansion,
“By combining BitGo’s industry-leading custody solutions with OneInfinity’s innovative digital asset risk management offerings, we are setting a new standard for safeguarding digital assets and empowering investors,” said Mike Belshe, Chief Executive Officer of BitGo.
Rex Zhang, Chief Operating Officer of OneInfinity by OneDegree, added that this collaboration with BitGo represents a milestone in digital asset custodial services in Japan, with aspirations for a broader international reach.
“As the first digital asset insurance and security solution provider in Asia, we are committed to enhancing the security and resilience of digital asset investments,
“Our partnership with BitGo underscores our shared dedication to delivering comprehensive risk management and fostering trust within the digital asset ecosystem on a global scale,” he added.
BitGo is an infrastructure provider of digital asset solutions, offering custody, wallets, staking, trading, financing, and settlement out of regulated cold storage.
Founded in 2013, the firm is the first digital asset company to focus exclusively on serving institutional clients.
The firm aims to advance a digital financial services economy that is borderless and accessible 24/7.
The firm is supported by more than 1,500 institutional clients in 50 countries, including many of the world’s top brands, cryptocurrency exchanges, and platforms.
It also secures approximately 20% of all on-chain Bitcoin transactions by value and is the largest independent digital asset custodian.
OneInfinity by OneDegree offers tech-enabled digital asset insurance and risk management solutions globally.
By offering tailor-made insurance to end-to-end digital asset players (including trading platforms, custodians, asset managers, banks, family offices and technology providers), the firm strengthens its clients’ competitive edge by enabling them to implement best practices under a robust risk management framework and secure a safety net for their assets under custody.
The firm is enabled by first-in-class cybersecurity technology offered by Cymetrics, a sister company of OneDegree.
Its solutions include digital asset custodial risk insurance (crime, and specie) and corporate liability coverages (professional indemnity, directors and officers, investment management and cyber).