Komainu, a digital asset custody service provider, has obtained approval from the UK Financial Conduct Authority (FCA) to operate as a custodian wallet provider under specific regulations.
This regulatory green light allows Komainu to offer its cryptocurrency custody services in the UK and manage digital assets utilized as collateral through its Komainu Connect platform.
FCA Approval and Komainu Expansion Plans
With the FCA’s approval, Komainu is poised to capitalize on the growing digital asset ecosystem in the UK and other key jurisdictions. Nicolas Bertrand, CEO of the company, expressed the company’s commitment to its expansion plans, highlighting its strategic position in the evolving crypto asset landscape.
Komainu Regulatory History With FCA
Since November 2019, Komainu has operated under the regulatory oversight of the Jersey Financial Services Commission (JFSC). Earlier this year, the company received a license from the Dubai Virtual Asset Regulatory Authority (VARA). These regulatory milestones underscore Komainu’s dedication to compliance and adherence to legal frameworks.
Moreover, through its European entity registered in the relevant regulatory registry currently extends its custody services to institutional customers in Italy. Additionally, the custodian has expanded its operations to Singapore this year, further solidifying its global presence.
Commitment to Compliance
The series of regulatory approvals and expansion efforts signify the company’s commitment to navigating the evolving landscape of crypto assets while adhering to legal and regulatory requirements.