Custody Service Provider Komainu Partners with Copper for Innovative Off-Exchange Settlements and Enhanced Client Services

Custody Service Provider Komainu Partners with Copper for Innovative Off-Exchange Settlements and Enhanced Client Services

Crypto News – Komainu, a regulated custodial service provider, has recently unveiled its strategic collaboration with Copper, a renowned leader in institutional digital asset solutions. This groundbreaking partnership presents Komainu’s institutional clients with a unique opportunity for off-exchange settlements through Copper’s innovative ClearLoop platform.

The timing of this move is significant, as it aligns with the maturation of the digital asset landscape, where institutions are increasingly focused on diversifying their counterparty risk while also seeking swift settlement options. Both Komainu and Copper are steadfast in their commitment to upholding the highest standards of digital asset security, which represents a substantial advancement in the future of financial market infrastructure.

Komainu and Copper Unite

Komainu, established as a collaborative effort between Nomura, Ledger, and CoinShares, is making waves in the digital asset sector through its partnership with Copper’s ClearLoop network. According to the announcement, this partnership ushers in a new realm of possibilities for Komainu’s institutional clients, granting them a competitive edge in off-exchange settlements.

This partnership is receiving acclaim for its ability to seamlessly integrate Komainu’s regulated, on-chain custody with the advanced off-exchange settlement capabilities of ClearLoop.

As institutional adoption of digital assets continues to surge, the management of custody and counterparty risk has become a primary concern. The collapse of the crypto exchange FTX last year served as a stark reminder of the critical importance of robust custody solutions.

ClearLoop, on the other hand, offers the capability to hold assets until just before trade execution, effectively mitigating counterparty risk by facilitating seamless connections across multiple exchanges within a single trading network. This innovative approach eliminates the need to transfer assets to an exchange-based wallet, streamlining and fortifying the institutional trading process.

Nicolas Bertrand, CEO of Komainu, and Dmitry Tokarev, CEO of Copper, have expressed their enthusiasm for this partnership. Bertrand emphasized the significance of diversifying counterparty risk and commended the partnership for delivering the best of both worlds to their clients.

He added that this collaboration, with Copper’s established processes and connectivity complementing the transparency and security provided by Komainu’s on-chain, segregated, and regulated custody platform, will elevate industry standards.

Komainu’s Regulatory Approval and Industry Milestone

In a significant milestone earlier this month, Komainu received regulatory approval from the UK’s Financial Conduct Authority (FCA) to operate as a custodian wallet provider. This achievement aligns with the regulatory framework established to combat money laundering, terrorist financing, and fund transfers.

Komainu’s unwavering commitment to regulatory compliance and security underscores the increasing professionalism within the digital asset sector.

As institutions continue to embrace digital assets, the partnership between Komainu and Copper ushers in a new era characterized by secure, efficient, and trustworthy financial markets. With the FCA’s regulatory endorsement, Komainu reaffirms its dedication to adhering to the highest standards of security and compliance in the industry.