Dubai-based insurer has introduced a crypto wallet that enables customers to pay premiums, receive claims, and trade digital assets. Developed with Zodia Custody and backed by Standard Chartered, the wallet operates within a regulated on-chain framework as the UAE embraces digital assets within mainstream finance. The move aligns with UAE regulatory efforts to bring digital assets into the mainstream, ensuring governance and security standards are maintained.
Abdellatif Abuqurah, the insurer’s CEO, said the capability to collect premiums and disburse claims via a secure digital wallet redefines insurance service delivery by enabling premium collection and claim payments through a secure digital wallet and ensuring alignment with regulatory and governance frameworks. The wallet is a collaboration with Zodia Custody and is supported by Standard Chartered, marking a rare example of a traditional financial institution piloting on-chain infrastructure. Regulators in the UAE have been constructing a framework that supports regulated digital asset usage in mainstream finance; the insurer’s wallet reflects that push.
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