OneDegree, Asia’s pioneer licensed digital asset insurer, has partnered with Dubai Insurance Company to introduce digital asset insurance in the UAE. The MENA region has emerged as a significant global centre for the digital asset ecosystem, and this collaboration aims to bolster support for web3 players, particularly in the UAE.
The initial phase of the partnership will focus on offering commercial liability insurance, including professional indemnity and directors and officers insurance. Together, the companies intend to pursue regulatory approval for additional products, particularly custodial wallet insurance, which are novel to the UAE market.
Two years ago, OneDegree launched OneInfinity, a suite of insurance products tailored for digital asset companies, solidifying its position as a leading entity in web3 risk management. The primary objective of OneInfinity is to facilitate conducive environments for reputable entities to thrive within the digital asset realm. OneDegree has played a pivotal role in assisting clients in obtaining regulatory licenses in prominent digital asset hubs worldwide.
“OneInfinity products are helping some of the world’s best web3 companies to grow their businesses in a secure and compliant manner. With MENA, and especially the UAE, continuing to grow and attract leading digital asset companies, OneInfinity and Dubai Insurance are a natural fit to identify and support the good actors,” said Alvin Kwock, Co-Founder of OneDegree.
As part of this collaboration, Dubai Insurance has made a strategic investment in OneDegree’s Series B funding round.
