The UK Financial Conduct Authority (FCA) has approved Komainu’s registration as a digital asset custodian, according to Cointelegraph.
The licence granted on 6 October enables the firm to provide crypto custody services in the United Kingdom, including collateral management via the Komainu Connect platform.
“Britain remains one of the most important hubs for fintech and innovation that will drive the convergence of traditional and decentralized finance,” said Nicolas Bertrand, the company’s chief executive.
Focused on institutional investors, Komainu was founded in 2018 by Japanese bank Nomura, hardware-wallet maker Ledger and investment firm CoinShares.
In 2021, UK law enforcement selected Komainu as a service for storing confiscated crypto assets.
In August 2023, the company obtained a full operating licence from the Dubai Virtual Asset Regulatory Authority.
Earlier, Kraken, MoonPay, trading platform Gemini of the Winklevoss twins, and the venture capital firm Andreessen Horowitz had already received approvals to operate in the United Kingdom.
In July 2023, Ripple filed with the FCA to register as a cryptocurrency company. The regulator also added Bitstamp to the registry, and Binance’s local unit withdrew its application.
Earlier, the regulator said that of 291 applications from crypto companies, only 38 were approved — about 13%.