Komainu Approved For Bitcoin Services In Dubai – Bitcoin Magazine

  • Komainu has received provisional approval to offer institutional bitcoin and cryptocurrency custody services in Dubai.
  • The company is a joint venture by $471 billion Nomura Bank, CoinShares and Ledger.
  • Komainu is considered operationally ready while regulators perform their due diligence before issuing a full approval.

Komainu, a digital asset custodian backed by $471 billion Japanese investment bank Nomura, has received a provisional approval to operate in Dubai, according to a press release.

Dubai’s Virtual Assets Regulatory Authority (VARA) awarded operational readiness as due diligence is performed in accordance with the regulators requirements on Komainu. Hence, the company has only received provisional approval. Though, if approved, Komainu will be among the first institutions of its kind to be fully regulated in the region.