Komainu, the institutional gateway for digital assets, backed by Laser Digital and Blockstream, has become the first company licensed under Dubai’s Virtual Asset Regulatory Authority (VARA) to offer Collateral Wallet Services, allowing Komainu to offer its full suite of collateral management services.

The extension of Komainu’s license will allow Komainu to provide its innovative collateral management solution, Komainu Connect, to a broader range of clients, both within the UAE and internationally, subject to compliance with applicable laws in the client’s home jurisdiction.

Komainu Connect addresses the industry need to reduce client counterparty risk associated with storing collateral and pre-funding on trading venues. Komainu Connect enables clients to trade and finance their assets on partner venues while their assets remain in Komainu’s regulated, segregated custody environment.

“We are honoured to be the first regulated entity under VARA to provide clients with collateral management services,” said Sebastian Widmann, Head of Dubai Office at Komainu. Receiving this is testament to our unwavering commitment to compliance and innovation. For the past year, we have been successfully offering these services from Jersey, and we are excited to bring our expertise to the UAE, providing institutions with the secure and efficient solutions they need to navigate the digital asset landscape.”

Darren Jordan, Chief Commercial Officer, Komainu, added: The extension of Komainu’s licence underscores its position as a leader in the digital asset industry, dedicated to working with regulators to build a robust and secure ecosystem. By providing regulated, third-party custody and collateral management services, Komainu is addressing a critical need for institutional clients, allowing them to engage with the digital asset markets with confidence.”

Source: Komainu