UK Regulatory Approves Komainu for Crypto Custody

Komainu, a cryptocurrency custody firm co-founded by the cryptocurrency investment firm CoinShares, the hardware wallet provider Ledger, and the Japanese investment bank Nomura, has received significant regulatory approval in the UK.

The company announced on October 6 that it had received permission from the U.K. Financial Conduct Authority (FCA) to register as a custodian wallet provider following the 2017 Money Laundering, Terrorist Financing, and Transfer of Funds regulations.

The crypto asset custody registration with the FCA permits Komainu to provide crypto custody services in the United Kingdom, including collateral management services via its Komainu Connect platform.

“Komainu will offer institutional custody services as well as Komainu Connect, our leading collateral management solution in the UK,” said Sebastian Widmann, the director of strategy at Komainu.

“The UK remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralized finance,” said Komainu CEO Nicolas Bertrand.

Komainu’s latest regulatory approval comes shortly after the company obtained a full operating license from Dubai’s Virtual Asset Regulatory Authority in August 2023.

Additionally, the crypto custody platform is governed by the Jersey Financial Services Commission, where its headquarters are located.

In recent years, Komainu has collaborated closely with British authorities, as previously reported.

Early in 2021, Komainu claimed to have reached an agreement with local authorities to store digital assets seized during the investigation process securely.