AI Financial Technology (AIFT), which operates the insurtech platform OneDegree, announced plans to expand into Japan following its rebranding last year.
Co-founder Alvin Kwock shared in an email that the company aims to establish an office in Japan, Asia’s second-largest economy, to drive future growth.
AIFT is monitoring Japan’s crypto insurance market and exploring partnerships with local insurers and reinsurers.
OneInfinity, the crypto insurance division of OneDegree, holds nearly 70% market share across several Asian markets, including Korea, Singapore, Hong Kong, and the Middle East. Kwock noted that crypto insurance is becoming the “gold standard” in these regions.
Kwock emphasized the significance of the expansion, stating that the Japan office will initially focus on technology R&D and consulting. This will serve as a foundation for the company’s long-term regional presence. AIFT plans to announce its first partnership in Japan soon.
Hong Kong-based digital insurtech OneDegree has secured an additional $27 mn in Series B funding, taking the total for this round to $55mn.
It’s similar to the amount the company raised almost two years ago, as part of the first tranche of Series B cash, when OneDegree $28 mn in Series B.

OneDegree Hong Kong is a next generation insurer and holder of a virtual license granted by the Hong Kong Insurance Authority.
AI Financial Technology is a company specializing in digital insurance solutions. AIFT focuses on innovation in technology-driven insurance, offering products like OneInfinity, its crypto insurance arm, which has gained significant market share in Asia and the Middle East.
AIFT emphasizes technological research and development as part of its expansion strategy, targeting emerging markets such as Japan for future growth. Its approach includes collaborations with local insurers and reinsurers to deliver tailored solutions while addressing growing demand for specialized insurance products like cryptocurrency coverage.
AIFT, the global cybersecurity and insurance technology company, has doubled down on its commitment to the Middle East region. In December 2024, AIFT received a further investment from one of its key partners in the region, Dubai Insurance Company, and appointed Obaid Buti Almulla of Dubai Insurance to its board of directors. Meanwhile Professor Tony Chan, the former President of King Abdullah University of Science and Technology in Saudi Arabia, has joined AIFT’s International Advisory Board.
AIFT and Dubai Insurance have successfully developed OneInfinity, the leading web3 insurance brand, in the Middle East since first joining forces in December 2023. After an initial investment at that time, the partnership has gone from strength-to-strength with OneInfinity becoming the only web3 insurance product to be approved by the Central Bank of the United Arab Emirates.
The partners have now taken their engagement to the next level with a further investment and the appointment of Obaid Buti Almulla to AIFT’s board of directors. The additional funds are being used to expand AIFT’s presence in the Middle East with several new hires already onboard and key executives having relocated to the region.
AIFT’s Middle East strategy will benefit greatly from the expertise and experience of Professor Tony Chan who has joined AIFT’s International Advisory Board.
Professor Chan, an expert in computational mathematics and one of the most cited mathematicians in the world, has recently completed 6 years as the President of King Abdullah University of Science and Technology in Saudi Arabia. Among many other positions in the country, Professor Chan served on the Saudi Data and AI Supervisory National Strategy Committee. His insights on AI and digital strategy in the Middle East will be invaluable as AIFT introduces its innovative AI cybersecurity products to the region.