Komainu Receives UK Regulatory Approval for Crypto Custody Services

• The firm has been granted registration as a custodial wallet provider by the U.K. FCA.
• Earlier in August, Komainu received a complete functioning license from VARA in Dubai.

British regulators have given their stamp of approval to Komainu, a cryptocurrency custody service founded by crypto investment firm CoinShares, hardware wallet manufacturer Ledger, and Japanese investment bank Nomura.

On October 6th, the firm stated that it has been granted registration as a custodial wallet provider by the U.K. Financial Conduct Authority (FCA) in accordance with the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations, 2017.

Komainu CEO Nicolas Bertrand stated:

“The U.K. remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralized finance.”

Strategic Expansion

Komainu is now able to provide crypto custody services, such as collateral management services through the Komainu Connect platform, in the United Kingdom thanks to its registration with the Financial Conduct Authority to hold digital assets as custody.

Sebastian Widmann, Komainu’s head of strategy stated:

“Komainu will offer institutional custody services as well as Komainu Connect, our leading collateral management solution in the United Kingdom.”

Earlier in August, Komainu received a complete functioning license from the Virtual Asset Regulatory Authority (VARA) in Dubai. Jersey’s Financial Services Commission is also responsible for regulating the crypto custody platform, as it is located in the region.

Komainu has recently collaborated extensively with U.K. authorities, as was previously reported. Komainu said early in 2021 that it had reached a deal with local authorities to safely archive digital assets confiscated during investigations.

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