1. BITBILIHome
  2. Article

Nomura’s crypto custody firm Komainu wins full operating license in Dubai

• 245 views

TL;DR Breakdown

  • Komainu has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA).
  • The license allows Komainu to offer expanded custody services in Dubai, marking a significant milestone.

Description

Komainu, a digital asset custody joint venture founded by Nomura, CoinShares, and tech firm Ledger, has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). This significant milestone comes after Komainu secured its Minimum Viable Product (MVP) license in the previous year, designating it as one of the initial entities to receive … Read more

Komainu, a digital asset custody joint venture founded by Nomura, CoinShares, and tech firm Ledger, has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). This significant milestone comes after Komainu secured its Minimum Viable Product (MVP) license in the previous year, designating it as one of the initial entities to receive such authorization from VARA.

The license will enable Komainu to offer its full range of custody services, including institutional staking and collateral management, to clients in Dubai. The platform, known as Komainu Connect, allows clients to deploy their digital assets in collateralization scenarios while they remain in segregated custody, verifiable on-chain.

Komainu has strengthened its position in the Dubai market with the establishment of Komainu MEA FZE in the city. However, this move demonstrates the company’s dedication to actively contributing to the region’s growing digital asset landscape.

Komainu’s digital asset custody expansion in Dubai

Sebastian Widmann, who leads the Strategy team at Komainu, highlighted the significant potential for growth within Dubai’s digital asset ecosystem. He pointed out that the region is experiencing an increase in assets due to the introduction of new exchanges. Widmann expressed admiration for the vibrant digital asset ecosystem and impressive talent pool in Dubai, and stated that Komainu is delighted to be part of the expansion of this innovative financial hub.

VARA’s approach to regulation is designed to bring clarity, ensure certainty, and mitigate potential market risks. Its model framework promotes global economic sustainability and embraces innovation, aligning with Komainu’s mission to fill the gap in the market by delivering secure and compliant custody services for institutions venturing into digital asset investments.

Founded in 2018, Komainu has played a pivotal role in safeguarding assets for various entities, including exchanges, financial institutions, asset managers, corporations, and government agencies. Its foundation rests on a joint venture involving influential entities, ensuring multi-asset support combined with rigorous regulatory adherence.

With headquarters in Jersey and additional offices in prominent global financial hubs like London, Dublin, Singapore, and now Dubai, Komainu operates under the oversight of regulatory authorities, including the Jersey Financial Services Commission (JFSC) and Dubai’s VARA.

The achievement of the full operating license in Dubai marks a significant step in Komainu’s journey, reflecting its commitment to bolstering the digital asset landscape and achieving strategic objectives within the regional market. The company’s expansion in Dubai comes amid a significant boom in assets driven by fund formation and exchange launches, positioning Komainu as a key player in the growth of this innovative financial hub.

Komainu’s regulatory-approved expansion in Dubai underpins its commitment to the digital asset landscape, with the license facilitating the advancement of its institutional-grade digital asset custody services within the region. The company’s presence and desirable regulatory status set it apart as it embarks on the next phase of its business journey. The recent appointment of Nicolas Bertrand as CEO, previously Head of Derivatives Markets and Commodities of Borsa Italiana, adds to the company’s strong leadership as it continues to innovate and contribute to the global digital asset ecosystem.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Nomura’s crypto custody firm Komainu wins full operating license in Dubai

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月23日 07:12
Next 2023年8月23日 08:03

Related articles

  • Reddit’s Moons token skyrockets after Crypto.com listing

    TL;DR Breakdown Reddit’s Moons token has registered a massive increase in two days after listing on Crypto.com. Users believe the token will become a growing force. Description The native token of cryptocurrency enthusiasts on Reddit, known as Moons, has witnessed a dramatic surge in price following its listing on Crypto.com. The token’s value has soared for two consecutive days, with an impressive 141% increase in a single day, reaching a trading price of $0.41. Moons had already experienced significant gains earlier when … Read more The native token of cryptocurrency enthusiasts on Reddit, known as Moons, has witnessed a dramatic surge in price following its listing on Crypto.com. The token’s value has soared for two consecutive days, with an impressive 141% increase in a single day, reaching a trading price of $0.41. Moons had already experienced significant gains earlier when news of a potential listing on the Kraken crypto exchange surfaced. Moons token registers a 141% increase in one day Crypto.com’s decision to support Moons adds yet another prominent exchange to the list, alongside MEXC, Gate.io, SushiSwap, and RCP Swap….

    Article 2023年7月20日

  • Hedge funds shift focus to US stocks, dump European

    TL;DR Breakdown Hedge funds are moving their focus from European equities to American and Japanese stocks, propelled by positive economic data in these countries. Commodity Trading Advisors are specifically transitioning their investments away from Europe and Hong Kong. Investments in information technology, consumer staples, and healthcare are driving the net buying of North American stocks to a five-month high. Fueled by positive economic figures and promising investment opportunities, hedge funds are noticeably moving their attention away from European equities, turning instead to the alluring American and Japanese stock markets. Reports from major banking players including JP Morgan, Morgan Stanley, and Goldman Sachs have highlighted this trend, suggesting a potential shift in investment strategies and priorities. Capitalizing on robust economic growth A significant catalyst for this transition is the release of favorable US economic data, including an uplifting job report and the successful avoidance of a debt ceiling crisis. These developments have reinvigorated the S&P 500 Index, propelling it to its loftiest peak since the prior summer. This bullish outlook has made US stocks an attractive proposition for hedge funds looking…

    Article 2023年6月10日

  • Here are three tips for surviving a U.S. recession

    TL;DR Breakdown Kamila Elliott, a certified financial planner and CEO of Collective Wealth Partners, advises controlling what you can in your financial life amidst rising fears of a recession. Reduce unnecessary spending and prioritize paying down debts to create a better financial safety net. Increase your emergency savings to improve liquidity and be prepared for potential financial emergencies or unexpected expenses. As inflation gradually decelerates, investor anxiety over a prospective U.S. recession is escalating. According to Nationwide’s recent survey, a daunting 68% of participants expect a recession to hit within half a year. Moreover, 62% envision this recession equaling or surpassing the severity of the devastating 2007-2009 Great Recession. The survey reveals that the fiscal pinch has not left the American populace. Dining out has become a luxury, major acquisitions like homes have been delayed, and reliance on credit cards has amplified. These were the trends among the 2000 respondents surveyed between March and April. Kamila Elliott, a certified financial planner, the co-founder and CEO of Collective Wealth Partners, and a member of the CNBC Advisor Council, has witnessed firsthand…

    Article 2023年5月21日

  • Twitter blatantly refuses to pay its Google Cloud bills

    TL;DR Breakdown Twitter has refused to settle its debts to Google Cloud, potentially impacting its trust and safety mechanisms. The conflict began before the contract renewal this month and Twitter has sought a renegotiation of its Google contract since March. The company’s tech infrastructure hosts some services on its own servers, while others are on Amazon and Google’s cloud platforms. Shaking the sphere of digital business, Twitter has reportedly declined to clear its debts owed to Google Cloud, a move that could put the social media giant’s trust and safety mechanisms in jeopardy. The deadline for payment has passed with the contract renewal slated for this month, a situation causing some ripples across the sector. An unsolved debt dispute When a multi-year contract with Google was inked before Elon Musk’s epoch-defining acquisition of Twitter, the focus was on intensifying efforts to combat spam and safeguard accounts, among other objectives. However, as this dispute festers, concerns have arisen about potential adverse effects on Twitter’s trust and safety functions, though specific implications remain unclear. The tech giant has been reportedly pushing for…

    Article 2023年6月13日

  • Binance Appoints Richard Teng as Head of Regional Markets Amid Regulatory Scrutiny

    TL;DR Breakdown Binance appoints Richard Teng as the head of regional markets outside the United States, showcasing their commitment to addressing regulatory challenges. The cryptocurrency exchange faces intense scrutiny from various countries, leading to operational withdrawals and license revocations. Binance, the world’s largest cryptocurrency exchange by trading volume, has appointed Richard Teng as the head of regional markets outside of the United States. This strategic move comes as Binance faces increasing regulatory scrutiny from various countries, including the United States. With a background in finance and extensive experience in the industry, Teng’s appointment signifies the exchange’s commitment to strengthening compliance efforts and navigating the complex regulatory landscape. Contents hide 1 Richard Teng Takes the Helm of Binance’s Regional Markets 2 Regulatory Scrutiny Puts Pressure on Binance 3 Binance’s Battle Against Regulatory Challenges 4 Conclusion Richard Teng Takes the Helm of Binance’s Regional Markets In response to mounting regulatory challenges, the renowned exchange company has tapped Richard Teng to oversee its regional markets outside of the United States. Teng, who joined Binance as CEO of Singapore in August 2021, brings a…

    Article 2023年6月2日
TOP