Nomura Holdings, one of Japan’s largest financial companies, has launched a Bitcoin custody service for traditional investors through a joint venture with hardware wallet provider Ledger and investment company CoinShares.
Digital Asset Custody Solution for Institutes
The partners have been working together since 2018 to develop the digital asset custodian known as Komainu, which was officially launched on Wednesday. The company describes itself as the first regulated digital asset custody solution developed by institute for institute.
According to the report, Komainu is regulated by the Jersey Financial Services Commission and will offer its services to institutional clients such as banks looking to enter the digital asset market.
The companies claim Komainu can integrate with financial institutions’ systems, and digital assets and customers will only be accepted if they go through anti-money laundering and origin checks.
CoinShares co-founder and CEO Jean-Marie Mognett will lead the company. Komainu’s leadership team is also made up of experts from Nomura and Ledger, as well as professionals with experience in financial services, cyber intelligence and more.
“The growth and maturity of the digital asset industry underscore the true potential for decentralized financing. Komainu is bridging the gap by bringing financial expertise and skills to institutional clients so they can rest assured that their assets are in safe hands, ”said Mognett.
Increased institutional interest in digital assets
Ledger CEO Pascal Gauthier noted that traditional investors look to both compliance and security when dealing with digital assets.
“Since cryptocurrencies are more susceptible to security gaps, the digital assets of institutions without the appropriate security infrastructure are directed against them. Through our combined experience, we have developed a sophisticated finance and security solution that will be the main institutional partner, ”he added.
Daniel Masters, Chairman of CoinShares, believed that traditional investors are becoming more open to the various benefits of digital assets.
“The case for digital assets as part of an investment portfolio, both as a source of diversification and as a countermeasure against the rampant expansion of the money supply, is becoming increasingly clear to institutions,” he said.
At the beginning of this month, the ICE-supported trading and custody platform for Bitcoin derivatives Bakkt started a custody company for digital assets for institutional customers in cooperation with the investment management company Galaxy Digital.
Selected image courtesy of Asia Nikkei
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