Komainu Receives Operating License for Cryptocurrency Custody Services in Dubai
Komainu, the cryptocurrency custody joint venture of Nomura, Ledger, and CoinShares, has been granted an operating license by the Virtual Asset Regulatory Authority (VARA) in Dubai. This allows Komainu to offer its full range of digital asset custody services, including institutional staking and collateral management, to clients in the emirate through its Komainu Connect platform. The platform enables clients to deploy their digital assets as collateral while remaining in segregated custody, with verification on-chain. The United Arab Emirates (UAE) has been actively attracting crypto businesses, with VARA established as the world’s first independent crypto regulator in March 2022. Komainu sees significant growth opportunities in the region.
Key Points:
- Komainu, the cryptocurrency custody joint venture, has received an operating license from VARA in Dubai.
- With the license, Komainu can now offer its full range of custody services to clients in the emirate.
- The services include institutional staking and collateral management through the Komainu Connect platform.
- Assets remain in segregated custody and can be verified on-chain.
- The UAE has been actively attracting crypto businesses, with VARA established as the world’s first independent crypto regulator.
Hot Take:
The operating license granted to Komainu strengthens its position as a leading provider of digital asset custody services. With the ability to offer institutional staking and collateral management, Komainu can cater to the growing demand for secure and compliant storage solutions in the cryptocurrency industry. Dubai’s efforts to attract crypto businesses and the establishment of VARA as a regulatory authority further solidify the region’s position as a crypto-friendly hub. As the industry continues to expand, Komainu is well-positioned to capitalize on the opportunities presented by the increasing adoption of digital assets.
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