Komainu, a regulated digital asset custody provider created by Japanese investment bank Nomura, digital asset manager CoinShares and digital asset security company Ledger. has been granted a full virtual assets service provider license by Dubai’s virtual asset regulatory authority in UAE. The license was issued on August 18th 2023.
Prior to that Komainu had received in July 2022 the MVP license from VARA.
Komainu will be able to serve qualified retail and institutional clients both as a crypto asset custodian and offer custodial staking services.
“We see tremendous opportunities to scale our business here amid a significant boom in assets driven by fund formation and exchange launches,” said Sebastian Widmann, Komainu’s Head of Strategy. “Dubai has a vibrant digital asset ecosystem and impressive talent pool, and we are proud to contribute to the growth of this innovative financial hub. Our presence and desirable regulatory status in the region marks another differentiator for us as we execute the next phase of our business.”
Prior to this VARA had issued the first VASP license to Laser Digital Middle East FZE, the crypto arm of Japanese Nomura Holdings. Laser Digital now has a full crypto license that will allow it to offer virtual asset broker dealer and investment management services in the UAE.
Nomura owned crypto entities now have two full licenses in Dubai UAE, while others such as BitOasis has lost their active MVP operational license and are in the midst of being acquired by other players.
The UAE has been attracting crypto entities over the past two years, and is poised to be one of the leading regulated crypto hubs in the world.
Updated August 22nd 2023
