Komainu is steadily expanding its footprint within the United Kingdom, following a collaborative agreement with regulatory authorities regarding the custody of cryptocurrencies confiscated during local investigations in 2021.
Komainu, a cryptocurrency custodial firm formed through a partnership between CoinShares, a crypto investment firm, Ledger, a hardware wallet provider, and Nomura, a Japanese investment bank, has achieved significant regulatory endorsement in the United Kingdom. The company proudly disclosed on October 6th that it had obtained official approval from the U.K. Financial Conduct Authority (FCA) to register as a provider of custodial wallet services, in accordance with the Money Laundering, Terrorist Financing, and Transfer of Funds regulations established in 2017.
The grant of crypto asset custody registration by the FCA empowers Komainu to extend its crypto custody offerings within the U.K., including the provision of collateral management services through its cutting-edge Komainu Connect platform.
Sebastian Widmann, the Head of Strategy at Komainu, shared his enthusiasm, stating, “Komainu is set to provide institutional custody services alongside Komainu Connect, our pioneering collateral management solution, right here in the United Kingdom.”
Echoing this sentiment, Nicolas Bertrand, CEO of Komainu, emphasized, “The United Kingdom continues to stand as a paramount hub for financial technology and innovation, fostering the convergence of traditional and decentralized finance.”
This latest regulatory milestone for Komainu follows closely on the heels of the company securing a full operating license from Dubai’s Virtual Asset Regulatory Authority in August 2023. It’s worth noting that Komainu’s crypto custody platform is also subject to regulatory oversight by the Jersey Financial Services Commission, given its headquarters in Jersey.
As previously reported, Komainu has forged a close working relationship with U.K. authorities in recent years. In the early months of 2021, Komainu solidified an agreement with local authorities to ensure the secure storage of digital assets confiscated during the investigative process.
