Dubai Insurance has introduced a digital wallet that allows insurance premiums and claims to be paid and received in crypto assets. The wallet has been developed with Zodia Custody and is described by the company as the first such solution in the UAE insurance sector.
According to Zodia Custody, the wallet provides a regulated setup for handling digital asset transactions, with a focus on security, governance and transparency. The aim is to integrate crypto payments into standard insurance processes such as premium collection and claims settlement.
The custody and control layer is supplied by Zodia Custody, which offers what it calls an institutional-grade platform for holding and managing digital assets. Through the partnership, Dubai Insurance will use Zodia’s infrastructure to support the receipt of premiums and the payment of claims in digital assets.
Abdellatif Abuqurah, CEO of Dubai Insurance, said the company sees digital assets becoming part of everyday financial activity and that insurers have a role in providing secure and well-governed frameworks around their use. Zodia’s managing director for the Middle East and Africa, Zane Suren, said insurers need trusted infrastructure to allow policyholders to transact in digital assets with confidence.
