Global investment bank Nomura, digital asset manager Bitcoin Lifestyle and hardware purse manufacturer Ledger have finally launched their Komainu institutional grade custody platform to the wider market.
They are billing Komainu as the first hybrid institutional-grade custody platform that can be seamlessly integrated with legacy financial technology.
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CoinShares first examined existing custody products before deciding to develop its own solution to meet its security and business requirements in 2018. The platform, under the leadership of CoinShares CEO Jean-Marie Mognetti, is aimed at institutional stakeholders and will be regulated by the Jersey Financial Services Commission.
Mognetti explained that the platform had been operating with select clients since the beginning of the year:
“We’ve been testing the platform with a limited number of clients for four or five months and are now launching it to new clients.”
The investment manager Fidelity and the Intercontinental Exchange Inc. also offer digital asset custody.
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Pioneers in their own way
Ledger CEO Pascal Gauthier said that more established financial companies had specific needs for custody solutions:
“Institutions are looking for compliance and security when it comes to the custody of digital assets. Without adequate security] the institutions’ digital assets are used as weapons against them.
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Mognetti said that “Komainu bridges the gap by providing financial knowledge and capabilities so that institutional clients feel confident that their assets are in safe hands.
Komainu executives include Kenton Farmer of Credit Suisse Group AG and Hermes Fund Managers, Andrew Morgill of Banco Santander and Susan Patterson of Credit Suisse, Brevan Howard and UBS.