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.
This license will allow Komainu to offer its full suite of collateral management services.
Komainu, which already holds a VARA license obtained in 2023 as the first VASP in Dubai, has now extended this license to include collateral management, branded as Komainu Connect. In its initial license, the company was authorized to provide crypto asset custodian services and custodial staking services.
Komainu Connect will be made available to a wider range of clients, both within the UAE and internationally, contingent upon compliance with the applicable laws in the client's home jurisdiction.
According to the press release, Komainu Connect addresses the industry's need to reduce client counterparty risk associated with storing collateral and pre-funding on trading venues. Komainu Connect empowers clients to trade and finance their assets on partner venues while ensuring their assets remain within Komainu’s regulated, segregated custody environment.
Sebastian Widmann, Head of Dubai Office at Komainu, commented, "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 at Komainu, added that the extension of Komainu’s license highlights its leadership position in the digital asset industry. He stated, "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 secured a $75 million strategic investment from Blockstream Capital Partners (“Blockstream”) in Bitcoin. This funding facilitated the company's acceleration of its international strategic growth plans while also enabling the adoption and integration of class-leading technologies developed by Blockstream Corporation Inc (“Blockstream Corp”). The objective of this integration is to maximize efficiencies and enhance client services in collateral management and tokenization.