Dubai Insurance became the first in its sector on a global scale to roll out a cryptocurrency wallet for its customers to handle claims and premiums, and transact digital assets.

The fourth-largest insurer in the United Arabs Emirates (UAE)said it developed the crypto wallet in partnership with Standard-Chartered-owned crypto custodian Zodia Custody, in an emailed announcement on Wednesday.

Dubai Insurance’s venture into digital assets comes as the UAE increasingly pushes forward the integration of digital assets into mainstream financial services and as traditional firms (TradFi) experiment with blockchain-based payments amid clearer rules for custody and compliance. It also comes months after the country enacted a new central bank law that brought digital assets and decentralized finance (DeFi) into traditional banking regulatory compliance, positioning the country as a global financial innovation hub.

While crypto wallets are increasingly common among TradFi firms such as PayPal Robinhood and Revolut, their adoption by a regulated insurer signals a deeper shift in how legacy financial institutions are testing onchain infrastructure for real-world transactions.

“By becoming the first insurance company to enable 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,” said Abdellatif Abuqurah, CEO at Dubai Insurance.

The move by the UAE firm introduces a regulated infrastructure that allows policyholders to transact using digital assets, while ensuring high standards of security, governance, and transparency.