Komainu, the crypto asset custody company, has received approval from the UK’s Financial Conduct Authority (FCA). This significant milestone allows Komainu to provide crypto asset custody services in the UK, amidst a backdrop of increased regulatory scrutiny in the crypto industry.
In a notable development, Komainu, the crypto asset custody company backed by CoinShares, Ledger, and Nomura, has gained regulatory approval from the UK’s Financial Conduct Authority (FCA). The approval, granted after stringent compliance with Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Fund Transfer regulations, permits Komainu to offer crypto custody services to both individual and institutional clients in the United Kingdom.
This regulatory green light is a testament to Komainu’s commitment to meeting the evolving compliance standards in the crypto space. Furthermore, it signifies the UK’s growing role as a hub for financial technology and innovation, bridging traditional and decentralized finance.
Komainu’s UK approval follows a prior business license obtained from the Dubai Crypto Asset Regulation Authority. The company’s adherence to regulatory oversight, including supervision by the Jersey Financial Services Commission, underscores its dedication to secure crypto asset storage.
In an era of heightened crypto regulation, Komainu’s success in securing these licenses highlights the increasing importance of robust infrastructure for companies venturing into the crypto sector.