Dubai Insurance becomes first UAE insurer to accept crypto
One of the oldest insurance companies in the UAE, Dubai Insurance, has enabled customers to pay for its services using cryptocurrency by offering a wallet developed by Zodia Custody to ensure transparent collection of insurance premiums and payout of claims.
Dubai Insurance’s initiative marks the first case in the UAE where an insurance company allows policyholders to conduct transactions using digital and crypto assets. According to the company, this secure, tightly controlled, and transparent solution will enhance customer experience and streamline operational processes.
“This initiative marks a turning point for us and for the insurance sector in the UAE and the wider region. By launching our first digital asset wallet, we are innovating in line with the UAE’s vision to lead the future of digital finance,” said Abdellatif Aboukoura, CEO of Dubai Insurance.
He added that as digital assets become part of everyday financial life, insurers must play a clear role, and this solution reflects the company’s commitment to innovation and the start of a broader digital journey.
More UAE industries adopt crypto payments
As reported by Cryptopolitan, Zodia Custody — a UAE-regulated digital asset custodian — provides Dubai Insurance and its clients with an institutional-grade custody solution that supports digital asset settlements for insurance claims and premium payments.
“The launch of Dubai Insurance’s crypto-enabled digital wallet is an important step forward in integrating digital assets into everyday financial services in the Middle East. As digital asset adoption accelerates, insurers need robust infrastructure that allows policyholders to transact with confidence,” said Zain Surren, Managing Director for Commercial, Middle East and Africa at Zodia Custody.
Founded in 1970, Dubai Insurance Company (DIN) is one of the UAE’s oldest insurers. It operates as a full-service insurer licensed for both life and non-life insurance, offering a wide range of products including property, liability, marine insurance, group benefits, and medical programs.
The company has a strong financial reputation, with AM Best and Fitch Ratings assigning it an “A” (Excellent / Stable) financial strength rating, reflecting solid capitalization and strong underwriting performance. DIN consistently ranks among the UAE’s top five national insurers, trailing only leading players such as Orient Insurance, Abu Dhabi National Insurance, and Sukoon Insurance.
As we wrote, Dubai forecasts $16 billion tokenized property market by 2033
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