Dubai Insurance, one of the oldest insurance companies in the UAE, has launched a crypto-enabled digital wallet, allowing policyholders to pay premiums and receive claims settlements using digital assets. This makes Dubai Insurance the first insurance provider in the UAE to enable transactions using digital and crypto assets. The company developed the wallet with Zodia Custody, a UAE-regulated crypto asset custodian, to ensure secure and transparent transactions.
The newly launched digital wallet introduces a regulated, institutional-grade infrastructure that allows policyholders to transact using digital assets while maintaining high standards of security, governance, and transparency. According to the company, the wallet is intended to provide a controlled channel for digital-asset transactions linked to insurance policies, covering both inbound payments (premiums) and outbound disbursements (claims).
The wallet is designed to receive premiums in digital assets, rather than through traditional bank transfer or card payments, and pay claims in digital assets, allowing eligible claim settlements to be disbursed to a customer's digital-asset address or wallet flow, subject to the company's process. It also provides traceability and transparency associated with on-chain transactions, while applying operational controls used in regulated financial services. However, the announcement did not specify which digital assets will be supported at launch, whether stablecoins are included, how exchange-rate conversion (if any) will be handled, or whether customers can choose between digital-asset and fiat settlement for the same policy.
Abdellatif Abuqurah, CEO at Dubai Insurance, stated that this initiative marks a defining moment for the company and the insurance sector in the UAE and the region. He added that by launching the first digital asset wallet, Dubai Insurance is embracing innovation in line with the UAE's vision to lead the future of digital finance. Abuqurah also noted that as digital assets become a part of everyday financial life, insurers need to play a clear role in providing security, strong governance, and confidence in a changing landscape. He views the wallet launch as the starting point of a broader digital journey that will continue to shape how insurance services are delivered across the region.
Zane Suren, Managing Director, Commercial, Middle East and Africa at Zodia Custody, said that Dubai Insurance's launch of a crypto-enabled digital wallet is a meaningful step forward in bringing digital assets into everyday financial services in the Middle East. He added that as digital asset adoption accelerates, insurers need trusted infrastructure that allows policyholders to transact confidently with digital assets. Through Zodia Custody's partnership with Dubai Insurance, customers will have institutional-grade custody and controls that help make premium payments and claims settlement in digital assets secure, transparent, and operationally robust.
Through its partnership with Zodia Custody, Dubai Insurance benefits from an institutional-grade custody platform underpinned by advanced security architecture and global compliance standards. The launch reinforces the UAE's position as a global hub for fintech and digital innovation, aligning with national blockchain initiatives, digital economy ambitions, and the country's progressive approach to financial technology regulation.
