Crypto custodian secures licence in Dubai

Komainu, a custodian focused on digital assets, has been granted an operating licence by the Virtual Assets Regulatory Authority (VARA) in Dubai.

The firm was granted a provisional licence in November 2022, and Komainu has described this latest development as “the final step in VARA’s licensing process.

The licence will enable Komainu to offer a full range of crypto custody services, including institutional staking and collateral management via its Komainu Connect platform.

The firm was formed in 2018 as a joint venture between Japanese banking group Nomura, digital asset manager CoinShares and blockchain firm Ledger.

It currently has five employees based in Dubai and plans to double that number before the end of the year.

©2023 funds global mena

Related Articles