A digital asset custody service provider, Komainu, has received approval from the UK Financial Conduct Authority (FCA) to operate as a custodian wallet provider.
With this approval, Komainu can provide its crypto custody services in the UK and handle digital assets used as collateral through its Komainu Connect platform.
Komainu is now registered with FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) regulations 2017. This is a key regulatory milestone as the UK is one of the most important hubs for financial technology and innovation.
Nicolas Bertrand, CEO of Komainu, said, “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.”
Since November 2019, Komainu has been under the regulatory control of the Jersey Financial Services Commission(JFSC). In February of this year, it was awarded a license by the Dubai Virtual Asset Regulatory Authority (VARA).
Moreover, Komainu’s custody service is provided to institutional customers in Italy, since its European entity was included in the applicable registry there. As of this year, Komainu operates in Singapore.
The regulatory approvals and expansion of Komainu speak of their determination to surf along the developing path of crypto assets, staying law-abiding.