Komainu, a cryptocurrency custody company established by CoinShares, Ledger (a hardware wallet provider), and Japanese investment bank Nomura, has achieved significant approval from UK regulators.
On October 6, the company announced that it had received approval from the UK's Financial Conduct Authority (FCA) to register as a custodial wallet provider in compliance with the Anti-Money Laundering, Counter-Terrorist Financing, and Funds Transfer Regulations of 2017. This registration allows Komainu to provide cryptocurrency custody services in the UK, including collateral management services via its Komainu Connect platform.
Sebastian Widmann, head of strategy at Komainu, stated, "Komainu will offer institutional custody services alongside Komainu Connect, our leading collateral management solution in the UK." Nicolas Bertrand, CEO of Komainu, emphasized the UK's role as a significant hub for financial technology and innovation, facilitating the convergence of traditional and decentralized finance.
This regulatory approval follows Komainu's receipt of a full operating license from the Dubai Virtual Asset Regulatory Authority in August 2023. The cryptocurrency custody platform is also subject to regulation by the Financial Services Commission of Jersey, where it is headquartered.
As previously reported, Komainu has been collaborating closely with British authorities, notably in early 2021 when it claimed to have reached an agreement with local authorities to securely store digital assets seized during investigations.
