Aon announced the first known use of stablecoins to pay insurance premiums among major global insurance brokers, completing a proof-of-concept transaction using U.S. dollar-backed stablecoins.

The initiative was carried out in collaboration with Coinbase and Paxos, with insurance premium payments settled using USDC on Ethereum and PayPal USD (PYUSD) on the Solana blockchain. The project demonstrates how stablecoins could enable faster and more efficient payment settlement within the insurance industry.

Aon said the experiment reflects growing demand for digital-asset infrastructure and aims to help the company understand how regulated stablecoin payments could integrate into insurance operations while maintaining governance, risk management and regulatory compliance.
Source: PRNewswire