Dubai Insurance launches digital wallet supporting cryptocurrency payments

Dubai Insurance Company launches a digital wallet that supports cryptocurrency payments and claims, allowing policyholders to use digital assets to pay insurance premiums and receive claims settlements. The wallet was developed in collaboration between Dubai Insurance Company and Zodia Custody, based on institutional level custody infrastructure, and operates within the existing regulatory and compliance framework in the UAE. Dubai Insurance Company was founded in 1970 and provides general insurance and life insurance products. Currently, it has not disclosed the first batch of supported digital asset types and whether the wallet is suitable for all insurance products.