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Ex-JPMorgan tech head growing crypto insurance team in HK

As Hong Kong makes big moves to regulate digital assets, a number of firms want in on the HK crypto scene. It's not just crypto native firms growing, however; an insurance technology (InsurTech) startup whose founder spent over a decade at JPMorgan is also expanding its reach with the help of a new funding round.

InsurTech startup OneDegree recently raised $55m in series B funding. The firm states this money will be "used to expand OneDegree Group’s digital asset insurance business," OneInfinity. 

OneDegree was co-founded in 2016 by Alvin Kwock. Kwock joined JPMorgan as a graduate in 2004 following an internship at Credit Suisse. By 2009 he was named APAC head of emerging technology. He moved to Taiwan and became the country's head of research in 2015 before leaving JPMorgan to start an augmented reality tech startup. 

The team is a modest one at the moment, but the growth has already begun. This month they hired Nicholas Au, a senior project manager, from Web3 commerce platform Refinable.

Kwock says his team containts "some of the strongest people I have met during my entire career," despite operating on "lean resources." At present, OneInfinity has ten job openings across Hong Kong and Taiwan, six of which are in engineering and product. 

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AUTHORAlex McMurray Editor

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