Komainu, a regulated custody service, partners with Copper for off-exchange settlements while offering enhanced services to clients. By Coingape Staff 1 hour ago Updated 16 mins ago
Komainu, a regulated custody service provider, has recently announced that it has joined forces with Copper, a leader in institutional digital asset solutions. Meanwhile, this innovative partnership offers Komainu’s institutional clients a groundbreaking opportunity for off-exchange settlements through Copper’s ClearLoop.
Notably, the move comes as the digital asset landscape matures and institutions seek to diversify counterparty risk while benefiting from swift settlement times. However, both companies are devoted to upholding the highest standards of digital asset security without compromise, marking a significant stride in financial market infrastructure’s future.
Komainu & Copper Joins Hands
Komainu, launched as a joint venture between Nomura, Ledger, and CoinShares, is making waves in the digital asset space with its partnership announcement with Copper’s ClearLoop network. According to the announcement, this collaboration opens up a world of possibilities for institutional clients of Komainu, providing them with a unique advantage in off-exchange settlements.
Notably, the partnership is lauded by many for its ability to merge Komainu’s regulated, on-chain custody with the advanced off-exchange settlement capabilities of ClearLoop.
As institutional adoption of digital assets continues to grow, managing custody and counterparty risk has taken center stage. Notably, the collapse of the crypto exchange FTX last year served as a stark reminder of the importance of robust custody solutions.
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Meanwhile, ClearLoop, with its ability to hold assets until just before a trade execution, mitigates counterparty risk by seamlessly connecting multiple exchanges within a single trading network. This innovative approach eliminates the need to transfer assets to an exchange-based wallet, simplifying and strengthening the institutional trading process.
Nicolas Bertrand, Komainu CEO, and Dmitry Tokarev, CEO at Copper, expressed their enthusiasm for the partnership. Bertrand highlighted the importance of diversifying counterparty risk and praised the partnership’s ability to provide clients with the best of both worlds.
He added that the partnership, with Copper’s proven processes and connectivity complementing the visibility and security offered by Komainu’s on-chain, segregated, and regulated custody platform, will elevate the industry’s standards.
Komainu’s Regulatory Approval and Industry Milestone
Earlier this month, Komainu achieved a significant milestone when it was granted regulatory approval by the UK’s Financial Conduct Authority (FCA) to operate as a custodian wallet provider. The achievement aligns with the regulatory framework established to combat money laundering, terrorist financing, and fund transfers.
Meanwhile, Komainu’s commitment to regulatory compliance and security is a testament to the growing professionalism within the digital asset sector.
As institutions continue to embrace digital assets, the partnership between Komainu and Copper heralds a new era of secure, efficient, and trustworthy financial markets. In addition, with regulatory approval from the FCA, Komainu reaffirms its dedication to adhering to the highest standards of security and compliance in the industry.