Dubai Insurance Becomes First Insurer to Offer Crypto Wallet For Payments, Premiums and Claims

Dubai Insurance has launched the first crypto-enabled digital wallet in the UAE insurance sector, allowing policyholders to pay premiums and receive claims using digital assets, a major step toward mainstream blockchain adoption in financial services. The wallet was developed in partnership with institutional custody provider Zodia Custody — a custodian backed by Standard Chartered — and operates within the UAE’s existing regulatory framework. 

The new platform enables secure, transparent receipt of insurance premiums and settlement of claims in cryptocurrencies, enhancing customer experience while streamlining operational processes for the insurer. The solution supports institutional-grade custody and governance standards designed to meet compliance expectations and protect users’ digital assets. 

“This initiative marks a defining moment for us and the insurance sector in the UAE and the region,” said Abdellatif Abuqurah, CEO of Dubai Insurance. “By becoming the first insurance company to enable the receipt of premiums and payment of claims in digital assets… we are redefining how insurance services are delivered while remaining firmly aligned with regulatory and governance frameworks.”

Zodia Custody executives also highlighted the significance of the launch, noting that institutional-grade custody infrastructure gives policyholders confidence that their crypto transactions — whether for premiums or claims — meet high standards of security, transparency and regulatory compliance. 

The development reflects the UAE’s broader push to integrate digital assets into regulated financial sectors, positioning Dubai as a global hub for fintech innovation. Observers say this move could accelerate crypto adoption in everyday financial services, while offering residents faster, more flexible alternatives to traditional fiat-only payment methods.