Komainu, a cryptocurrency custody firm co-created by CoinShares, Ledger, and Nomura, has received major regulatory approval in the United Kingdom. The company announced on October 6th that it has been approved by the U.K. Financial Conduct Authority (FCA) to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds regulations, 2017.
This regulatory approval enables Komainu to offer crypto custody services in the U.K., including collateral management services through its Komainu Connect platform. Sebastian Widmann, Komainu’s Head of Strategy, stated that they will provide institutional custody services and their leading collateral management solution in the United Kingdom. The CEO of Komainu, Nicolas Bertrand, also emphasized the significance of the U.K. as a financial technology and innovation hub that will drive the convergence of traditional and decentralized finance.
This approval from the FCA follows Komainu’s full operating license from Dubai’s Virtual Asset Regulatory Authority in August 2023. Additionally, the crypto custody platform is regulated by the Jersey Financial Services Commission, where it is headquartered.
It is worth noting that Komainu has been actively collaborating with U.K. authorities in recent years. In early 2021, the company announced an agreement with local authorities to securely store digital assets seized during investigations.
Overall, Komainu’s regulatory approvals and partnerships indicate its commitment to providing secure and compliant crypto custody services, positioning it as a trusted player in the evolving cryptocurrency industry.
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