TL;DR
- Dubai Insurance launched its own wallet that allows policyholders to pay premiums and receive claim payouts in cryptocurrencies, fully integrated into its operations.
- The wallet was developed with Zodia Custody and uses segregated institutional custody, banking-grade controls, and full transaction traceability.
- The wallet supports payments and settlements in digital assets under the local regulatory framework and is currently limited to insurance policy–related operations.
Dubai Insurance launched a digital wallet to operate with cryptocurrencies within its insurance business in the United Arab Emirates. The wallet allows customers to pay premiums and receive claim payouts using digital assets, under a regulated structure operating domestically.
The wallet was developed in partnership with Zodia Custody, an institutional digital asset custodian. The infrastructure uses segregated custody systems, institutional access controls, and procedures aligned with the UAE’s existing financial regulatory frameworks. All transactions are executed within the insurer’s formal operating structure.
Dubai Insurance confirmed that the wallet supports the receipt of premium payments and the settlement of insurance claims in digital assets. These flows are integrated into the company’s core processes, without the need for external intermediaries or third-party platforms. The solution provides full fund traceability and segregated custody of assets used in each transaction.
Dubai Insurance Limits Its Wallet to Policy Operations
Zodia Custody provides the technological and operational layer of the wallet. Its platform is designed for institutional clients and complies with the highest security standards used by banks and regulated financial institutions. As a result, Dubai Insurance can offer crypto asset operations without modifying its compliance structure or supervisory framework.
The launch was announced through corporate communications. With this implementation, Dubai Insurance becomes the first insurer in the country to offer payments and settlements in cryptocurrencies through its own wallet integrated into its operating systems.
The insurer’s CEO, Abdellatif Abuqurah, stated that the wallet will serve as a foundation for incorporating digital assets into other company services. For now, its use is limited to policy-related operations, excluding trading, investment activities, or third-party custody services.
From Zodia Custody, Managing Director for the Middle East and Africa Zane Suren confirmed that the infrastructure is ready to support payments and settlements in digital assets under institutional standards. The solution is designed for recurring transactions and formal settlements, not speculative activity.
