Web3 insurance UAE Relm Insurance and Liva Insurance have reached a noteworthy mark as the Central Bank of the United Arab Emirates (UAE) formally certified their Web3 insurance systems, SigmaWEb3 and SigmaWEb3 VARA. These innovative technologies aim to solve the specific risks of local digital assets, blockchain, and fintech companies functioning under the same umbrella.
Tailored Coverage for the Web3 Ecosystem
The approved products provide comprehensive protection for:
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Blockchain-based businesses
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Virtual asset service providers (VASPS)
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Fintech startups and scale-ups
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Enterprises regulated by the UAE Virtual Assets Regulatory Authority (VARA)
These products solve a long-standing insurance gap resulting from the high speed of innovation and the inadequate knowledge of developing technologies among conventional insurers by focusing on the particular exposures in the Web3 industry.
Strategic Collaboration Supporting Innovation
The strategic alliance between Relm Insurance and Liva, a top GCC-based insurance company, was developed in February 2025, building on the product approval. Relm’s knowledge of digital asset insurance and Liva’s strong regional presence provide customised solutions to a quickly changing market.
Joseph Ziolkowski, CEO of Relm Insurance, emphasised the importance of this development:
“Regulatory approval for SIGMAWEB3 and SIGMAWEB3 VARA is a major legislative milestone. It reflects the UAE’s commitment to innovation and gives businesses the confidence to grow securely in a dynamic environment.”
Central Bank Approval: A Regulatory Milestone
Martin Rueegg, Group CEO of Liva, highlighted the significance of regulatory support:
“This recognition by the UAE Central Bank underscores our joint mission to deliver high-quality, relevant coverage for Web3 businesses. It also positions us to scale and diversify our offerings in response to our clients’ evolving needs.”
The endorsement of SIGMAWEB3 and its VARA-specific variant demonstrates:
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Increased regulatory awareness of Web3-specific risks
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Growing institutional trust in specialised insurance providers
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The UAE’s proactive stance in supporting emerging technologies
Future of Digital Asset Insurance in the UAE
Approved by UAE-based brokers and clients, this allows them to access controlled insurance products supporting their audacious Web3 and digital asset projects. This growth supports the nation’s standing as a forward-looking centre for innovation, business activity, and regulatory clarity.
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