Hong Kong virtual insurer OneDegree has partnered with cryptocurrency exchange Hong Kong Digital Asset Exchange (HKbitEX) to offer insurance for cryptocurrencies, as they try to address concerns holding back institutional investors from investing in the US$3 trillion asset class. OneDegree , one of four virtual insurance licensees in Hong Kong tasked with promoting the wider use of insurance technology, or insurtech, will offer up to US$100 million in coverage to HKbitEX, insuring it against theft and the hacking of cryptocurrencies put in its custody by clients. It is the first insurer in Asia to underwrite insurance policies for digital assets,…