Komainu Launches UAE’s First Licensed Collateral Wallet Service for VASPs - A Regulatory Milestone

Crypto custody just got a regulatory stamp of approval in the Middle East.

Komainu, the institutional custody joint venture backed by Nomura and CoinShares, has flipped the switch on the United Arab Emirates' first fully licensed collateral wallet service. The move targets Virtual Asset Service Providers (VASPs)—exchanges, brokers, and trading platforms—that need to securely lock up client assets. It's a direct answer to the region's tightening compliance demands.

Why This Isn't Just Another Vault

Forget unregulated cold storage. This service operates under a full regulatory license from UAE authorities, a rarity in the digital asset space. It allows VASPs to segregate client collateral in a compliant, institution-grade environment. The setup is designed for efficiency, letting firms manage pledged assets without the typical operational friction of traditional custody.

The UAE's Calculated Crypto Play

The launch isn't an accident; it's a strategic piece of the UAE's ambition to become a global crypto hub. By providing a regulated infrastructure pillar, the Emirates is effectively rolling out the red carpet for serious financial players who've been sidelined by compliance gray areas. Other regions take note: this is how you attract institutional capital.

For VASPs, it cuts two ways. On one hand, it offers a clear path to satisfy regulators. On the other, it introduces a new operational cost—the eternal tax of doing legitimate business in finance, where every solution to a regulatory problem comes with an invoice attached.

This service bridges the gap between crypto's frontier spirit and the gated community of traditional finance. It provides the guardrails that let institutional money flow faster. The UAE is betting that the future of finance will be built by those who master the rules, not just those who try to bypass them.

Komainu raised $75 million from Blockstream in early 2025

In January 2025, Komainu raised $75 million in strategic investment from Blockstream Capital Partners (“Blockstream”) in Bitcoin. The funding enabled the company to accelerate its international strategic growth plans whilst adopting and integrating class-leading technologies developed by Blockstream Corporation Inc (“Blockstream Corp”), to maximize efficiencies and enhance client services in collateral management and tokenization.

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