UAE Central Bank Approves Digital Asset Custody Risk Insurance Product

Insurance provider OneDegree and the UAE's Dubai Insurance Company have announced that they have begun offering digital asset custody risk insurance to customers in the UAE. The companies have partnered to launch a brand called OneInfinity and said they have received approval from the UAE Central Bank to offer the product. Custodial risk insurance is part of a risk management strategy for custodians, exchanges and other digital asset service providers. According to OneDegree, the product is required by many regulators around the world.