On August 22nd, according to Blockworks, Komainu, a crypto custody institution jointly established by Nomura Securities, Ledger, and Coinshares, announced that it has obtained approval from the Dubai Virtual Asset Regulatory Authority (VARA) to provide custody services to Dubai customers.

It is reported that VARA has a four-stage licensing process: temporary license, preparation and operation of MVP product license, and full market product (FMP) license. The company pointed out that after completing the last step of the VARA licensing process, it can provide institutional pledge and collateral management services in the region through its Komainu Connect platform, as well as custody and custody pledge services.

As reported in July, Komainu obtained a temporary regulatory license to operate in Dubai.