• Nomura’s joint venture, Komainu, has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA).
• The company is now authorized to provide its entire array of crypto-related services, including institutional staking and collateral management.
• The government of the UAE is encouraging the growth of startups in this space by providing funding and enacting laws that are friendly to the industry.
Nomura’s Crypto Joint Venture Receives Full Operating License in Dubai
Nomura’s cryptocurrency joint venture Komainu has received a full operating license from the Virtual Asset Regulatory Authority (VARA) in Dubai. This marks the completion of VARA’s licensing procedure for Komainu, which also includes crypto businesses CoinShares and Ledger. With this license, Komainu is now authorized to provide its entire array of crypto-related services including institutional staking and collateral management.
Favorable Regulatory Position
The government of the UAE is encouraging crypto startups by providing funding and enacting laws that are friendly to the industry. In addition, Komainu is based in Jersey where it is subject to oversight by the Jersey Financial Services Commission. Through its collateral management service called Komainu Connect, Komainu can offer all custody services as approved by VARA.
Dubai’s AI & Web 3.0 Campus
Dubai’s AI and Web 3.0 Campus has chosen to subsidize licenses for companies that want to set up shop there under the supervision of Dubai International Financial Centre (DIFC). This initiative aims at attracting professionals from around the world as well as potential investors into this innovative hub.
Highlighted Crypto News Today: ETH Investors Worry as Bears Take Charge
Recently Ethereum investors have been worried about bearish market conditions due to price drops across several major exchanges. Despite this trend, many still remain hopeful about Ethereum’s long-term prospects as they continue investing in it with optimism about future returns on their investments once prices recover again soon enough.
Komainu’s success story shows how favorable regulatory positions can help foster growth within an industry while also protecting customer interests at every step through rigorous KYC procedures. With initiatives like Dubai’s AI & Web 3.0 Campus enabling companies wishing to set up shop there, we may see more investment opportunities opening up soon enough for both institutional investors as well as individual traders alike in this rapidly growing space across various geographical locations worldwide!