Hong Kong crypto insurer plans foray into Japan amid Trump buzz

Pro-Bitcoin U.S. president brightens prospects of Asian blockchain ventures like AIFT

Alvin Kwock, co-founder and CEO of AIFT, told Nikkei Asia in an interview that the Hong Kong crypto insurer is ready to enter Japan. (Photo by Kensaku Ihara)

PEGGY YE, Nikkei staff writer

January 15, 2025 16:23 JST

HONG KONG -- A Hong Kong company that offers insurance for the cryptocurrency industry has set its sights on Japan, just as Asian tech entrepreneurs hope for a global boom fueled by the expected Bitcoin-friendly policies of incoming U.S. President Donald Trump.

AIFT, also known as OneDegree, is set to establish an office in Tokyo in the first quarter of 2025, followed by a research center in the western Japanese city of Fukuoka. The company is known in Hong Kong for offering insurance for pets and virtual assets, and its co-founder and CEO Alvin Kwock is keen to capitalize on opportunities in cybersecurity related to blockchain and artificial intelligence technology.