The Central Bank of the UAE approves digital asset custody risk insurance products

ChainCatcher news, according to Cointelegraph, insurance provider OneDegree and a Dubai-based insurance company in the UAE jointly announced that they have begun offering digital asset custody risk insurance to clients in the UAE.

The two companies have collaborated to launch a product called "OneInfinity," which has been approved by the Central Bank of the UAE. Custody risk insurance is part of the risk management strategies for custodians, exchanges, and other digital asset service providers. According to OneDegree, many global regulators require the provision of this product to offer protection to consumers.