Nomura, CoinShares, Ledger-Backed Komainu Receives VARA License

Crypto custody joint venture Komainu announced it received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). 

Komainu, the joint venture (JV) between Nomura, Ledger, and CoinShares, has been awarded a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). The operating license allows Komainu to offer its full range of custody services.  

Komainu To Offer Full Range of Custody Services

In a press release, the digital asset custody service provider announced that it had been granted the operational license after securing its MVP license in November 2022. Komainu said that achieving “this final step in VARA’s licensing process allows Komainu to offer its full suite of custody services,” which includes institutional staking and collateral management through its Komainu Connect platform to clients in Dubai. 

Komainu’s Head of Strategy, Sebastian Widmann, said in the press release:

“We see tremendous opportunities to scale our business here amid a significant boom in assets driven by fund formation and exchange launches.”

Adding, 

“Dubai has a vibrant digital asset ecosystem and impressive talent pool, and we are proud to contribute to the growth of this innovative financial hub. Our presence and desirable regulatory status in the region marks another differentiator for us as we execute the next phase of our business.”

The regulated digital asset custodian was built by “institutions for institutions” and came into existence as a JV between digital asset manager CoinShares, digital security company Ledger, and Nomura. The custodian, established in 2018, offers regulatory complaint multi-asset support. Komainu launched in June 2020 and provides custody services to exchanges, financial institutions, asset managers, government agencies, and corporations. 

Nomura Holdings announced recently that its subsidiary, Laser Digital Middle East FZE, received a full crypto license in Dubai. Laser Digital’s license allows the firm to offer Virtual Asset Broker-Dealer Services and Virtual Asset Management and Investment Services. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice