Komainu Gains UK Regulatory Approval to Offer Crypto Custody Services
Summary:
Komainu, a cryptocurrency custody company co-founded by CoinShares, Ledger and Nomura, has received regulatory approval from the UK's Financial Conduct Authority to operate as a custodian wallet provider. This allows Komainu to offer crypto custody and collateral management services in the UK via its Komainu Connect platform. The firm, also regulated by the Jersey Financial Services Commission, previously secured a full operating license from Dubai’s Virtual Asset Regulatory Authority in August 2023.
Komainu, a digital asset custody enterprise formed as a collaboration between CoinShares, a crypto investment firm, Ledger, a hardware wallet provider, and Nomura, has achieved significant regulatory approval in the United Kingdom. Komainu shared this news on October 6, stating that it has gained the green light from the UK's Financial Conduct Authority (FCA) to operate as a custodian wallet supplier, as directed by the Money Laundering, Terrorist Financing, and Transfer of Funds regulations 2017. The approval allows Komainu to deliver cryptocurrency custodial services in the UK, inclusive of collateral management via its Komainu Connect platform. Komainu CEO, Nicolas Bertrand expressed, “The UK remains a critical financial technology and innovation hub, driving the integration of conventional and decentralized finance." Komainu's latest FCA approval follows on from the firm earning a comprehensive operating license from Dubai's Virtual Asset Regulatory Authority in August 2023. Komainu, whose headquarters is in Jersey, is also supervised by the Jersey Financial Services Commission. Komainu has a history of working closely with UK authorities. Early in 2021, the firm confirmed that it had secured an agreement with local regulators to protectively hold digital assets confiscated throughout investigations. Related Reads: Big Questions: Did the NSA create Bitcoin?
Published At
10/6/2023 1:40:52 PM
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