VARA’s licensing allows Komainu to offer its full suite of custody services, including institutional staking and collateral management via its collateral management service, Komainu Connect.
Komainu, a joint venture between leading Nomura, and crypto firms CoinShares and Ledger, received a full operating license from Dubai’s Virtual Asset Regulatory Authority .
The United Arab Emirates has opened its door to crypto innovations, supported by federal grants and pro-crypto regulations that aim to nurture entrepreneurs. Attaining a VARA license in Dubai is a three-step process — which requires crypto exchanges to qualify for provisional approval, followed by a minimal viable product license, and finally a full market product license.
Komainu attained the final step in VARA’s licensing process nearly 10 months after securing its MVP license in November 2022. Some of the other prominent crypto exchanges that have gained similar operational status include
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