Komainu, a cryptocurrency custody company, has received FCA of UK approval for custody.

Komainu, a cryptocurrency custody company, has received FCA of UK approval for custody.

A digital asset custody service called Komainu has announced that the UK Financial Conduct Authority (FCA) has granted it custody approval.

The company is now able to operate as a custodial wallet provider in accordance with the 2017 laws regarding the transfer of funds and the prevention of money laundering and terrorist financing.

Komainu now has the legal right to provide cryptocurrency custody services in the United Kingdom, according to a press release dated October 6. The Komainu Connect platform, which is a part of this offering, also provides services for collateral management.

Komainu's CEO, Nicolas Bertrand, discussed the importance of this regulatory accomplishment. In particular, he emphasized the dynamic fusion of traditional and decentralized finance, which is a key component of the UK's role in financial technology and innovation.

"We are perfectly positioned to take advantage of the developing digital asset landscape in the UK and other important jurisdictions, and we remain steadfast in our commitment to our growth goals," Bertrand said. ".

The regulatory initiatives of Koimanu.

The regulated digital asset custodian Komainu, founded in 2018 and with its headquarters in Jersey, United States, was created by and for institutional entities.

A significant turning point for the company was the recent FCA approval. It comes shortly after another achievement by one of its entities, Komainu MEA (Middle East and Africa) FZE, which obtained a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).

Additionally, Komainu's European subsidiary recently qualified for inclusion in the Official Asset Managers (OAM) registry in Italy, enhancing its ability to offer custody services for digital assets to regional institutional clients.

The Head of Legal, Compliance, and Regulation at Komainu, Evelien van den Arend, emphasized the firm's dedication to following a thorough regulatory roadmap.

"This UK MLR registration follows our recent registration with the pertinent Italian authorities, as well as our establishment in Dubai," the woman said. We are committed to providing a strong regulatory foundation to support our growth strategy. ".

A major accomplishment for the cryptocurrency sector is Komainu obtaining crypto custodian registration in the UK. It is evidence of the rapidly growing acceptance and significance of digital assets within the larger financial environment.

This accomplishment also highlights the ongoing cooperation between regulators and important industry players who are all working to create a safe and reliable environment for cryptocurrency investors.

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