UAE Central Bank Approves First-of-its-Kind Insurance Solution for Web3 Businesses

In a landmark development for the digital asset and Web3 industries, the UAE Central Bank has granted approval to Relm Insurance—the only insurer globally dedicated to emerging sectors—and Liva Insurance, a leading provider across the GCC, for their joint multi-line insurance products: SIGMAWEB3 and SIGMAWEB3 VARA.

The approval marks a significant milestone in the strategic partnership formed between Relm and Liva in February 2025. The two firms joined forces to expand tailored insurance solutions across emerging sectors, including digital assets, artificial intelligence, and biotechnology. The new offerings are specifically designed to serve the growing risk management needs of Web3 businesses in the UAE.

Unlike traditional companies, blockchain startups, fintech platforms, and crypto exchanges often face a complex risk landscape, made more difficult by the insurance industry’s limited understanding of these sectors. SIGMAWEB3 addresses this gap with a comprehensive product suite that includes financial, professional, cyber, and crime coverage—specifically calibrated for digital asset companies.

SIGMAWEB3 VARA goes one step further, providing a version tailored to meet the regulatory requirements of Dubai’s Virtual Asset Regulatory Authority (VARA). This allows crypto firms operating under VARA's framework to obtain compliant insurance coverage, strengthening their operational resilience and regulatory alignment.

“Securing Central Bank approval for SIGMAWEB3 and SIGMAWEB3 VARA is a significant step for brokers and clients in the UAE,” said Joseph Ziolkowski, CEO of Relm Insurance. “By closing the insurance gap, we’re empowering businesses with the protection they need to innovate confidently in a rapidly evolving market.”

Martin Rueegg, Group CEO of Liva Insurance, echoed the sentiment: “This approval affirms both Liva Group’s deep market insight and Relm’s expertise in specialised insurance. It also reinforces the vital role regulatory collaboration plays in fostering a secure and thriving digital economy.”

The move further establishes the UAE as a global leader in supporting regulated innovation in the digital economy. It also positions Relm and Liva at the forefront of Web3 insurance, as regulatory bodies increasingly acknowledge the importance of purpose-built, sector-specific coverage.

As the digital economy continues to evolve, SIGMAWEB3 and SIGMAWEB3 VARA offer a timely solution to a longstanding challenge—helping tech entrepreneurs mitigate risks while navigating compliance, growth, and innovation.