Komainu launches UAE’s first licensed collateral wallet service for VASPs

Komainu, an institutional service provider of digital assets, backed by Laser Digital and Blockstream, has become the first company licensed under Dubai’s Virtual Asset Regulatory Authority (VARA) to offer Collateral Wallet Services in the UAE.

The license will allow Komainu to offer its full suite of collateral management services.  

Komainu, which already has a license with VARA since 2023, being the first VASP in Dubai to receive a license, has now extended this license to include collateral management, called Komainu Connect. In its first license, the company was able to offer crypto asset custodian services and offer custodial staking services. 

Komainu Connect will be offered to a broader range of clients, both within the UAE and internationally, subject to compliance with applicable laws in the client’s home jurisdiction.

As per the press release, Komainu Connect addresses the industry need to reduce client counterparty risk associated with storing collateral and pre-funding on trading venues. Komainu Connect enables clients to trade and finance their assets on partner venues while their assets remain in Komainu’s regulated, segregated custody environment.  

Sebastian Widmann, Head of Dubai Office at Komainu, noted, “For the past year, we have been successfully offering these services from Jersey, and we are excited to bring our expertise to the UAE, providing institutions with the secure and efficient solutions they need to navigate the digital asset landscape.” 

Darren Jordan, Chief Commercial Officer, Komainu, added that the extension of Komainu’s license underscores its position as a leader in the digital asset industry. He noted, “By providing regulated, third-party custody and collateral management services, Komainu is addressing a critical need for institutional clients, allowing them to engage with the digital asset markets with confidence.” 

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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