Komainu Secures Regulatory Clearance in the UK for Cryptocurrency Custody Solutions

• The company has obtained registration as a custodial wallet provider from the U.K. FCA.
• In August, Komainu was awarded a full operational license by VARA in Dubai.

U.K. regulators have approved Komainu, a cryptocurrency custody service established by the crypto investment firm CoinShares, hardware wallet producer Ledger, and Japanese investment bank Nomura.

On October 6th, the company announced that it has received registration as a custodial wallet provider from the U.K. Financial Conduct Authority (FCA) in compliance with the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations, 2017.

Komainu CEO Nicolas Bertrand remarked:

“The U.K. continues to be one of the most significant centers for financial technology and innovation that will drive the integration of traditional and decentralized finance.”

Strategic Expansion

With its registration from the Financial Conduct Authority, Komainu is now positioned to offer crypto custody services, including collateral management services via the Komainu Connect platform, in the United Kingdom.

Sebastian Widmann, Komainu’s head of strategy, stated:

“Komainu will provide institutional custody services along with Komainu Connect, our premier collateral management solution in the United Kingdom.”

Earlier in August, Komainu secured a full operational license from the Virtual Asset Regulatory Authority (VARA) in Dubai. The Financial Services Commission of Jersey also oversees the regulation of the crypto custody platform, given its location in the area.

Komainu has recently engaged in extensive collaboration with U.K. authorities, as previously reported. The company indicated in early 2021 that it had established an agreement with local authorities to securely store digital assets seized during investigations.

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