Komainu Secures Full Cryptocurrency Custodian License In Dubai
- Komainu, co-founded by Nomura Securities, Ledger, and Coinshares, has achieved a significant milestone.
- VARA’s rigorous four-stage licensing process – provisional, MVP, and full market product licensing – has been successfully navigated by Komainu.
Komainu, the crypto watchdog co-founded by industry giants Nomura Securities, Ledger, and Coinshares, has achieved a significant milestone by securing approval from the Dubai Virtual Assets Authority (VARA) to provide custody services to customers in Dubai.
This move signals a major step forward in Komainu’s efforts to establish itself as a trusted player in the rapidly evolving cryptocurrency landscape.
The approval from VARA comes after a rigorous four-stage licensing process that includes provisional licensing, MVP product licensing preparation and operation, and full market product licensing (FMP). Having successfully completed all the stages, Komainu is now poised to offer a range of institutional mortgage and mortgage management services in the region through its innovative platform, Komainu Connect. This marks a significant expansion beyond its existing portfolio, showcasing the company’s commitment to meeting the evolving needs of the crypto market.
Co-founded by Nomura Securities, Ledger, and Coinshares’s comprehensive custody solutions are expected to provide customers in Dubai with a secure and regulated environment to manage their digital assets. The company’s reputation, backed by its esteemed co-founders, positions it well to cater to the growing demand for reliable cryptocurrency services in the Middle East.
This achievement follows Co-founded by Nomura Securities, Ledger, and Coinshares’s temporary regulatory license announcement in July, signifying the company’s intent to establish a meaningful presence in Dubai’s thriving crypto ecosystem. The move not only underscores Komainu’s strategic vision but also highlights Dubai’s rising importance as a global fintech and blockchain hub.