Zodia Custody, the digital asset custody startup founded by Standard Chartered, has partnered with Dubai Insurance to introduce a crypto digital wallet designed for the UAE insurance sector.
The wallet will allow policyholders to pay premiums and receive insurance claims in digital assets, offering greater transparency and “operational modernization” across insurance workflows, said the firm.
The new digital wallet provides a regulated infrastructure that supports the receipt of premiums and the settlement of claims using crypto assets.
Dubai Insurance said the initiative is intended to streamline processes while ensuring high standards of governance, security, and compliance.
The company positioned the launch as part of its broader digital transformation strategy, aimed at improving customer experience and aligning insurance services with evolving financial technologies.
Abdellatif Abuqurah, CEO of Dubai Insurance, said the launch reflects the UAE’s ambition to lead the future of digital finance.
“This initiative marks a defining moment for us and the insurance sector in UAE,” Abuqurah said. “By becoming the first insurance company to allow the receipt of premiums and payment of claims in digital assets through a secure digital wallet, we are redefining how insurance services are delivered while remaining firmly aligned with regulatory and governance frameworks.”
He added that insurers have a growing responsibility to provide confidence, strong risk management, and long-term value as digital assets become part of everyday financial life.
Through the partnership, Dubai Insurance said it will leverage Zodia Custody’s institutional-grade custody platform, supported by advanced security architecture and global compliance standards.
Zane Suren, Managing Director, Commercial, Middle East and Africa at Zodia Custody, described the launch as an important step toward mainstream digital asset adoption in financial services.
“Insurers need trusted infrastructure that allows policyholders to transact confidently with digital assets,” Suren said. “Customers will have institutional-grade custody and controls that help make premium payments and claims settlement in digital assets secure, transparent, and operationally robust.”
The launch further reinforces the UAE’s standing as a leading center for fintech and blockchain innovation. It aligns with the country’s broader digital economy ambitions and reflects its progressive approach to financial technology regulation.