Dubai Insurance has announced a significant step into the digital asset space with the launch of a dedicated crypto wallet, developed in partnership with institutional-grade custodian Zodia Custody. The new wallet enables policyholders to pay for premiums and receive claims using digital assets, marking a notable integration of blockchain technology within the region’s traditional insurance sector.
This initiative provides a regulated and secure infrastructure designed to facilitate transparent and efficient transactions for its clients.
Bridging Traditional Insurance with Digital Finance
The launch represents a key milestone for both Dubai Insurance and the broader UAE financial landscape, positioning the company as a first-mover in adopting digital currencies for core insurance operations.
“This initiative marks a defining moment for us and the insurance sector in UAE. With the launch of our digital asset wallet, we are embracing innovation in line with the UAE’s vision to lead the future of digital finance,” said Abdellatif Abuqurah, CEO of Dubai Insurance.
A Strategic Partnership for Secure Transactions
To ensure the highest standards of security and compliance, Dubai Insurance has partnered with Zodia Custody. The collaboration provides the insurance firm with an institutional-grade custody platform that features advanced security protocols and adheres to global compliance standards, safeguarding client assets.
“Dubai Insurance’s launch of a crypto-enabled digital wallet is a meaningful step forward in bringing digital assets into everyday financial services in the Middle East,” commented Zane Suren, Managing Director, Commercial, Middle East and Africa at Zodia Custody.
Aligning with the UAE’s Digital Vision
This strategic move aligns directly with the UAE’s ambitious digital economy and blockchain strategies. By integrating digital asset capabilities, Dubai Insurance not only enhances its service offerings but also reinforces the country’s reputation as a progressive hub for financial technology and innovation. The launch establishes a new framework for how insurance services can be delivered securely and efficiently in a rapidly evolving digital world.
About Dubai Insurance
Dubai Insurance Company (DIN) was established in 1970 by a decree from His Highness, the late Sheikh Rashid Al Maktoum, making it the first national insurance company in Dubai. The company provides a wide range of insurance products and services to both individual and corporate clients across the UAE.
Source: Fintech News Middle East
