🚀 UAE Approves Digital Asset Custodial Risk Insurance: A Game-Changer for Crypto Security!
The Central Bank of the UAE just approved a first-of-its-kind custodial risk insurance for digital assets! This bold move now allows Web3 custodians, exchanges, and asset managers to protect themselves and their customers from asset loss due to hacks, internal fraud, or even damage to physical storage media. Peace of mind in the digital age? Sign us up!
Hong Kong’s OneDegree and Dubai Insurance have partnered to roll out this critical product under the name OneInfinity. Approved by the CBUAE, it's designed to ensure crypto businesses meet regulatory demands for consumer protection—a necessity that could reshape the entire digital landscape in the UAE.
Why is this huge? Think of it as Web3's version of traditional banking deposit protection schemes—giving you confidence that your assets are secure, no matter what.
The insurance isn’t just about securing digital assets. It’s about building trust in the future of finance! Whether you're an exchange, asset manager, or simply holding crypto, this coverage is a major leap forward in reducing risks.
With regulators now requiring custodial risk insurance worldwide, the UAE stands as a pioneer, setting the stage for secure digital finance. As more crypto firms become licensed in the region, the demand for this insurance will explode, fortifying the entire ecosystem.
Crypto’s future is now safer than ever.
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