Odaily News - Secure custody company Komainu has announced that it has obtained approval from the Dubai Virtual Asset Regulatory Authority (VARA) to provide custody services to local clients and become one of the first crypto companies to receive full VASP approval.



Established in 2018, Komainu is a joint venture between Japanese financial giant Nomura Securities, blockchain company Ledger, and crypto investment firm CoinShares, offering services to institutional clients such as asset management firms, banks, liquidity providers, and exchanges.



The company had previously received preliminary approval to operate in Dubai in July 2022, and in November of last year, Komainu was granted an MVP license by the Dubai regulatory authority.



A spokesperson noted that Komainu currently has five employees in Dubai and plans to double its staff by the end of the year. (Blockworks)