Digital asset custody service provider Komainu has received approval from the UK Financial Conduct Authority (FCA) to register as a custodian wallet provider.
Its cryptoasset registration with the FCA will allow Komainu to offer crypto-custody services in the UK, including collateral management services via its Komainu Connect platform.
Komainu has been given this approval under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) regulations 2017.
Komainu (Jersey) has been regulated by the Jersey Financial Services Commission (JFSC) since November 2019.
Komainu MEA FZE was recently granted a Virtual Asset Service Provider licence from the Dubai Virtual Assets Regulatory Authority. Additionally, Komainu’s European entity was recently added to the OAM registry in Italy.
Komainu was established in 2018 to provide institutions with a secure and compliant custody service for investment in digital assets. Komainu currently custodies assets for exchanges, financial institutions, asset managers, corporations and government agencies.
Nicolas Bertrand, CEO of Komainu, says: “This is a key regulatory milestone as the UK remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralised finance. We are perfectly positioned to take advantage of the growing digital asset ecosystem in the UK, and other key jurisdictions, and remain committed to our growth plans.”
Evelien van den Arend, head of legal, compliance and regulation at Komainu, comments: “This UK MLR registration follows our recent registration with the relevant Italian authorities, as well as our establishment in Dubai. We are committed to supporting our growth strategy with a sound regulatory roadmap.”
