Komainu, a crypto custody provider formed by Nomura Holdings, Ledger, and CoinShares, has obtained an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA).
The license enables the company to offer its full range of custody services to Dubai clients, including institutional staking and collateral management through its Komainu Connect platform, the company said in its announcement.
Dubai is a market with “tremendous” growth potential for Komainu. The company also has offices in London, Dublin and Singapore.
Komainu joins a growing list of crypto companies that have set up shop in Dubai, such as Binance, OKX, Hex Trust and Laser Digital, a crypto subsidiary of Nomura.