Komainu Receives Provisional Approval to Operate in Dubai

Crypto custody provider Komainu has received provisional regulatory approval from the Virtual Assets Regulatory Authority (VARA) in Dubai.

It allows Digital asset custody provider Komainu to offer crypto products and services to institutional customers in Dubai.

Sebastian Widmann, the Head of Strategy at Komainu, said:

Dubai and VARA are establishing a new hub for digital asset businesses and bringing like-minded companies into the country to help establish its growing crypto ecosystem, and we look forward to contributing to these exciting developments. Komainu actively works with regulators, partners and our clients to make sure that our platform is held to the highest of standards, and this latest endorsement by the Dubai Government is a further testament to that fact.

Komainu has also chosen Dubai for its regional headquarters. According to the company, institutional clients in Dubai will be able to benefit from its services in a regulated environment.

Komainu was created by Japanese investment bank Nomura, digital asset manager CoinShares and digital asset security company Ledger. The company is dedicated to providing decentralised and secure digital asset storage services through a single application-based solution for institutions, providing multi-asset support and regulatory compliance.