OneDegree, a Hong Kong-based virtual insurance licensee, has announced a partnership agreement with Walaa Cooperative Insurance Company of Saudi Arabia, which will support OneDegree in providing global reinsurance funding for its digital asset insurance products. It is reported that OneDegree will join MENA in 2023 and partner with a number of local and international players who have chosen the local area as their Web3 business development base. By partnering with Walaa, OneInfinity by OneDegree will support virtual asset service providers in the region and globally.