Komainu, a regulated digital asset custody service provider built by institutions for institutions, announced that it has received approval from the UK Financial Conduct Authority (FCA) to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) regulations 2017.

The cryptoasset registration with the FCA allows Komainu to offer crypto-custody services in the UK, including collateral management services via its Komainu Connect platform.

“This is a key regulatory milestone as the UK remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralized finance,” said Nicolas Bertrand, Komainu CEO. “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.”

Komainu (Jersey) has been regulated by the Jersey Financial Services Commission (JFSC) since November 2019. In the course of this year, Komainu MEA FZE was granted a VASP license from the Dubai Virtual Assets Regulatory Authority (VARA) and additionally, Komainu’s European entity was recently added to the OAM registry in Italy, now allowing it to actively offer digital asset custody services to Italian institutional clients. Komainu has also been operational in Singapore since 2021.

“This UK MLR registration follows our recent registration with the relevant Italian authorities, as well as our establishment in Dubai. We are committed to supporting our growth strategy with a sound regulatory roadmap” said Evelien van den Arend, Head of Legal, Compliance and Regulation at Komainu.

Komainu was established in 2018 to fill a void and provide institutions with a secure and compliant custody service for investment in digital assets. Komainu currently custodies assets for exchanges, financial institutions, asset managers, corporations, and government agencies.

Source: Komainu