Key Highlights:
- OneDegree and Dubai Insurance are now offering custodial risk insurance in the UAE, protecting digital asset firms from hacks, fraud, and physical loss.
- With Dubai’s VARA mandate, this insurance is crucial for any company aiming to operate safely in the UAE’s rapidly growing crypto ecosystem.
Yello Paradisers! In a massive win for crypto companies, the UAE Central Bank has just given the green light to OneDegree and Dubai Insurance to offer digital asset custodial risk insurance.
If you’re dealing with crypto in the UAE and don’t have this kind of coverage, you might want to rethink your strategy, because this could be the ultimate safety net your assets need.
OneDegree and Dubai Insurance Lead the Way in Crypto Protection
For the first time, UAE-based digital asset firms can now secure custodial risk insurance, thanks to this approval. This specialized insurance doesn’t just protect your Bitcoin stash from hacks or internal fraud; it covers you against losing access to your digital assets entirely.
And let’s face it, no one wants their hard-earned Ethereum vanishing into the ether, right? With OneInfinity, the insurance arm of OneDegree, companies now have access to a full suite of risk management tools, all mandated by Dubai’s Virtual Assets Regulatory Authority (VARA).
Crypto Hub UAE: Now With Bulletproof Insurance
With hundreds of digital asset companies setting up shop in the UAE, this approval couldn’t come at a better time. Robin Scott, General Manager of OneDegree, proudly states that the UAE is quickly becoming a digital asset hub – and this custodial insurance is a key piece of the puzzle. Whether you’re running a crypto exchange or managing a digital asset portfolio, having this coverage is like putting a fortress around your assets.
In a market where hacks and fraud are a constant threat, this insurance is the lifeline every digital asset company needs. Don’t wait until it’s too late, secure your assets now, because in the fast-moving world of crypto, peace of mind is priceless.
