Komainu, a cryptocurrency custody agency co-created by crypto funding agency CoinShares, {hardware} pockets supplier Ledger and Japanese funding financial institution Nomura, has secured main regulatory approval in the United Kingdom.
The firm introduced on Oct. 6 that it had obtained approval from the U.Ok. Financial Conduct Authority (FCA) to register as a custodian pockets supplier below the Money Laundering, Terrorist Financing and Transfer of Funds laws, 2017.
The crypto asset custody registration with the FCA permits Komainu to supply crypto custody providers in the U.Ok., together with collateral administration providers via its Komainu Connect platform.
“Komainu will offer institutional custody services as well as Komainu Connect, our leading collateral management solution in the United Kingdom,” Komainu’s head of strategy Sebastian Widmann told Cointelegraph.
“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 mentioned.
Related: CoinShares says US not lagging in crypto adoption and regulation
Komainu’s newest regulatory approval comes quickly after the corporate obtained a full operating license from Dubai’s Virtual Asset Regulatory Authority in August 2023. The crypto custody platform can be regulated by the Jersey Financial Services Commission, the place it’s headquartered.
As beforehand reported, Komainu has been intently working with U.Ok. authorities in current years. In early 2021, Komainu claimed it made an settlement with the native authorities to securely store digital assets seized during the investigatory process.
