Komainu gets FCA registration as UK custodian wallet provider

Komainu has been granted registration by the UK Financial Conduct Authority, allowing it to offer custodian wallet and collateral‑management services in Britain under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) regulations 2017 [3]. The approval positions the Nomura‑backed platform to tap the UK’s growing institutional digital‑asset market while extending its global regulatory footprint.

FCA registration details

The FCA registration, announced on 6 October 2023, authorises Komainu to provide crypto‑custody services to UK‑based institutional clients, including the Komainu Connect platform that handles collateral for trading partners [3]. The approval was granted under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) regulations 2017, aligning the firm with the UK’s stringent anti‑money‑laundering framework [1].

Expanding a global regulatory network

Komainu’s UK registration follows a series of licences across key jurisdictions: the Jersey Financial Services Commission has overseen the firm since November 2019, a Virtual Asset Service Provider licence was issued by Dubai’s VARA in 2022, and its European arm was added to Italy’s OAM registry earlier this year [1][3]. The company also operates in Singapore since 2021 and recently secured a VASP licence for its MEA entity [1]. This layered regulatory coverage is intended to reassure institutional investors of compliance and security across multiple markets.

Market positioning and client base

Founded in 2018, Komainu now services exchanges, asset managers, corporations, and government agencies, offering a “secure and compliant” custody solution built on a joint‑venture between Nomura, CoinShares and Ledger [3]. CEO Nicolas Bertrand highlighted the UK as a pivotal hub for fintech innovation, suggesting the FCA registration will help bridge traditional finance and decentralized finance [1][3]. The firm’s recent partnership with exchange OKX, which will leverage Komainu Connect for institutional custody, underscores its strategy to embed custodial services within broader trading ecosystems [1].

What to watch

• Any further FCA‑approved product launches or extensions of the custodial service beyond the current scope.
• Regulatory updates from VARA or the Italian OAM registry that could affect Komainu’s cross‑border offerings.
• Institutional demand trends in the UK crypto‑custody market, especially from banks and asset managers seeking compliant on‑chain exposure.

Komainu’s FCA registration marks a concrete step toward mainstreaming institutional crypto custody in the UK, but the firm’s success will hinge on how quickly it can convert regulatory clearance into measurable market share amid evolving global compliance standards.