Dubai Insurance has launched a crypto-enabled digital wallet that lets policyholders pay premiums and receive claims in digital assets. The product, rolled out in the United Arab Emirates, uses institutional custody services from Zodia Custody and aims to support digital-asset premium receipts and claim payouts.
The company said the wallet will operate within existing UAE regulatory and compliance frameworks and called it the first such offering in the country’s insurance sector. Dubai Insurance was founded in 1970 and provides general and life insurance across the UAE.
Zane Suren, managing director for commercial, Middle East and Africa at Zodia Custody, commented on the launch. “Insurers need trusted infrastructure that allows policyholders to transact confidently with digital assets.”
The insurer did not identify which digital assets it will support at launch or whether the wallet will cover all product lines. (Ed. note: the company did not specify supported assets or product rollout details.)
The move follows wider insurer interest in crypto products and regulation. In October, Meanwhile raised $82 million to expand Bitcoin-denominated insurance and savings offerings. Regulators and firms are also considering capital rules and controlled Bitcoin exposure, including steps by the Hong Kong Insurance Authority and a Bitcoin-linked annuity index from Delaware Life Insurance Company and BlackRock.
