One of Japan’s largest financial companies, Nomura Holdings has partnered with hardware wallet provider Ledger and investment company CoinShares to launch the bitcoin custody service. The companies were working together to develop the digital asset custodian dubbed Komainu since 2018, and it was officially launched this week. The venture described itself as the first regulated crypto custody solution built by institutions for institutions. Komainu will offer its services to institutional clients like banks who want to gain exposure to the crypto market.
The Jersey Financial Services Commission regulates the venture.
According to the report, Komainu is regulated by the Jersey Financial Services Commission and will extend its services to institutional clients like banks who want to gain exposure to the digital asset market. The financial companies involved in the project claim that Komainu, bitcoin custody, can integrate with the systems of financial institutions, and crypto assets and clients will only be accepted if they pass through anti-money laundering and provenance checks. Jean-Marie Mognett, the Co-Founder and CEO of CoinShares, will lead the venture. Komainu’s executive team includes experts from Nomura and Ledger as well as professionals with experiences in financial services, Cyber Intelligence, and more, according to the announcement. Earlier, Binance announced to launch trading platform for institutional investors in the UK.
“Komainu bridges the gap by bringing financial expertise and capabilities for institutional clients.”
The Co-Founder of CoinShares, Jean-Marie Mognett, said that the growth and maturity of the crypto industry point at the true potential for decentralized finance. Komainu links the gap as it brings financial expertise and capabilities for institutional clients to feel assured that their assets are in safe hands,” co-founder added. The CEO of Ledger, Pascal Gauthier, noted that traditional investors are looking for both compliance and security when dealing with digital assets custody. He said that with crypto being more prone to vulnerabilities, institutions’ digital assets are weaponized against them without the proper security infrastructure in place.