Prime Highlights:
- Dubai Insurance has introduced the first crypto-enabled digital wallet in the UAE insurance sector, allowing policyholders to pay premiums and receive claim payments using digital assets.
- The launch demonstrates Dubai Insurance’s commitment to innovation and aligns with the UAE’s vision to lead the future of digital finance.
Key Facts:
- The digital wallet is built on Zodia Custody’s institutional-grade platform, ensuring advanced security, compliance, and streamlined operations.
- The initiative supports the UAE’s digital economy goals and national blockchain strategy, enhancing the region’s position as a hub for fintech and digital innovation.
Background
Dubai Insurance Company has launched the first crypto-enabled digital wallet in the UAE insurance sector, marking a major step toward digital finance adoption in the industry. The company announced the launch through a partnership with Zodia Custody, a global digital asset custodian, according to a press release.
The new digital wallet lets policyholders safely pay insurance premiums and receive claim payments using digital assets. With crypto payments, Dubai Insurance gives customers more flexibility while keeping high standards of security, governance and transparency.
The wallet is built on Zodia Custody’s institutional-grade platform, which features advanced security systems and follows global compliance requirements. Dubai Insurance said the solution will also help streamline internal operations, supporting its broader focus on innovation as financial services continue to change.
Abdellatif Abuqurah, chief executive officer of Dubai Insurance, said the launch reflects the company’s commitment to innovation and aligns with the UAE’s vision to lead the future of digital finance. He added that as digital assets become more common in everyday financial activity, insurers have a responsibility to provide security, trust, and strong governance.
Zane Suren, managing director for commercial operations in the Middle East and Africa at Zodia Custody, said the initiative marks a meaningful step in bringing digital assets into daily financial services across the region. He noted that the partnership will ensure secure, transparent and reliable premium payments and claims settlements using digital assets.
Dubai Insurance supports the UAE’s digital economy goals and national blockchain strategy with this launch. By offering insurance payments in crypto, it raises the standard for the regional insurance market and boosts the UAE’s position as a global center for fintech and digital innovation.
