The United Arab Emirates insurance industry has entered a transformative phase with the introduction of cryptocurrency payment solutions, marking a significant milestone in financial innovation. Dubai Insurance has pioneered this movement by launching the nation’s first digital wallet for crypto assets within the insurance sector, enabling residents to conduct insurance transactions using digital currencies.
Abdellatif Abuqurah, Chief Executive Officer of Dubai Insurance, characterized the development as “a defining moment” for both the company and the broader insurance landscape across the UAE and Middle Eastern region. “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 aligned with regulatory and governance frameworks,” Abuqurah stated.
This groundbreaking initiative follows the UAE banking sector’s earlier adoption of cryptocurrency solutions, which already offers digital currency buying and selling services. Notably, RAKBank and Zand have obtained formal approvals from the Central Bank of the UAE for dirham-backed stablecoins, signaling robust regulatory support for digital asset integration.
The momentum for cryptocurrency adoption in the UAE continues to accelerate at an exceptional pace. According to the World Crypto Rankings 2025 report by Bybit and DL Research, the Emirates leads the Middle East and North Africa region in cryptocurrency adoption and ranks fifth globally. The report further notes that the UAE is establishing itself as “the de facto bridge between Asia, Europe, and Africa in tokenised finance.”
In February 2025, Liva Group and Relm Insurance collaborated to launch specialized insurance products for companies operating in emerging sectors including digital assets, blockchain, artificial intelligence, biotechnology, and the space economy.
Dubai Insurance has strategically partnered with Zodia Custody to ensure secure infrastructure for digital asset transactions. Zane Suren, Managing Director for Commercial Operations in the Middle East and Africa at Zodia Custody, emphasized that “as digital asset adoption accelerates, insurers need trusted infrastructure that allows policyholders to transact confidently with digital assets.”
Abuqurah further elaborated on the significance of this development, noting that “digital assets have become part of everyday financial life in the UAE. We believe insurers have a clear role to play providing security, strong governance, and confidence in a changing landscape.” This move represents the latest in a series of digital financial innovations in the UAE, including recent initiatives allowing employees to receive salaries through digital wallets.