Zodia Custody, the digital asset custody startup founded by Standard Chartered, has partnered with Dubai Insurance to introduce a crypto digital wallet designed for the UAE insurance sector. The wallet will allow policyholders to pay premiums and receive insurance claims in digital assets, offering greater transparency and “operational modernization” across insurance workflows, said the firm. Premium Payments and Claims in Digital Assets The new digital wallet provides a regulated infrastructure that s ...

Core Viewpoint - The Securities Industry and Financial Markets Association (SIFMA) has expressed concerns to the SEC regarding its Project Crypto, which aims to create a tailored exemption regime for crypto projects, emphasizing that the existing regulatory framework is essential for maintaining the integrity of American capital markets [2][3]. Group 1: Regulatory Concerns - SIFMA cautions that the regulatory complexity is a key factor that contributes to the trustworthiness of American capital markets [2]. - The organization urges the SEC to ensure that innovation in crypto does not undermine the regulatory framework relied upon by millions of American families [3]. - SIFMA argues that existing securities laws are adequate to regulate crypto assets, suggesting that the same regulations applicable to traditional securities should apply to crypto versions [5][6]. Group 2: Tokenisation Market Insights - Tokenisation, which involves bringing traditional financial instruments onto a blockchain, is currently valued at approximately $36 billion [4]. - Standard Chartered projects that the tokenisation sector, excluding stablecoins, could expand to as much as $2 trillion by 2028 [4]. - The technology behind tokenisation is believed to facilitate faster settlement times and enhance transparency among market participants [4].