CoinShares’ crypto venture Komainu wins crypto registration in UK
Komainu is increasing its presence in the U.K. after making an agreement with authorities to store crypto seized during local investigations in 2021.
Komainu, a cryptocurrency custody firm co-created by crypto investment firm CoinShares, hardware wallet company Ledger and Japanese Nomura, has secured major regulatory approval in the United Kingdom.
The company announced on Oct. 6 that it has received approval from 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.
The crypto asset registration with the FCA allows Komainu to offer crypto custody services in the United Kingdom, including collateral management services through its Komainu Connect platform.
“The U.K. remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralized finance,” Komainu CEO Nicolas Bertrand said.
Related: CoinShares says US not lagging in crypto adoption and regulation
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. The crypto custody platform is also regulated by the Jersey Financial Services Commission, where it remains headquartered.
As previously reported, Komainu has been closely working with U.K. authorities in recent years. In early 2021, Komainu claimed that made an agreement with the local authorities to securely store digital assets seized during the investigatory process.
