đ 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 Kongâs 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 protectionâa 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 schemesâgiving you confidence that your assets are secure, no matter what.
The insurance isnât just about securing digital assets. Itâs 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.
Cryptoâs future is now safer than ever.
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