Japanese Nomura Bank’s, Komainu, a regulated digital asset custody provider, has received an MVP (Minimum Viable Product) operational license from Dubai’s Virtual Asset Regulatory Authority (VARA). This is one step from receiving the full operational license. This also follows HexTrust another digital asset custodian who received the license prior. Under the license Komainu will be able to offer both custodial and staking services. Komainu had received provisional regulatory approval from VARA in July 2022 allowing it to commence operational readiness even as the application goes through the warranted due diligence. Komainu acts as key gatekeeper to institutions gaining exposure to the digital asset industry with the provision of secure and regulated digital asset custody services for blockchain and beyond. Over the years, Komainu has established itself as one of the leading digital asset custody providers for institutional clients, providing the same safeguards and protec...

  The Bahrain Economic Development Board announced that it has welcomed Singapore Based digital asset bank Whampoa Group to Bahrain. Whampoa will be setting up its new digital bank headquarters in Bahrain. The digital bank, which offers integrated financial solutions to serve institutions, innovators, and sophisticated investors globally, including digital banking services and the trading, custody, and asset management of digital assets, will open its operations in Bahrain by the end of year. In 2022, Whampoa Group had announced plans to raise $50 million for a crypto hedge fund and had announced plans to set up a venture capital fund to invest in digital assets. "We are delighted that Whampoa Group intends to set up the headquarters of their new digital bank in Bahrain as they would benefit from Bahrain's pro-innovation environment and forward-looking regulatory framework. The establishment of these types of institutions is vital to further strengthen the existing digital...

    UAE Emirates NBD Bank announced on LinkedIn that it has partnered with PWC and digital asset custodian and settlement provider FireBlocks to launch its Digital Asset Lab. PWC Middle East and Fireblocks will be founding council members. According to Emirates NBD, “This marks a new milestone in our innovation journey, and together, we look forward to shaping the Digital Asset space in the region.” Fireblocks is an enterprise-grade platform delivering secure infrastructure for moving, storing, and issuing digital assets. The company enables businesses to easily and securely support digital assets and cryptocurrencies. In February of 2023, Fireblocks acquired First Digital, a stablecoin and digital asset payments technology platform for $100 million. UAE based Emirates NBD has been a strong proponent for Blockchain and digitization. Emirates NBD was one of the first banks to join the UAE blockchain enabled KYC platform. In 2022 UAE Emirates NBD Group Chief Operat...

  UAE based Venom Blockchain which recently received a license from ADGM ( Abu Dhabi Global Market)  in early October 2022, now has a regulated virtual asset exchange on its roster, Yoshi Markets,  renamed to Venomex. In March 2022, Yoshi Markets previously known as Arabian Bourse Limited (ABX), received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The FSP allowed Yoshi Markets to operate as a Multilateral Trading Facility (MTF) and Custodian for virtual assets. Now Yoshi Markets has renamed itself to Venomex, reflecting the recently approved Venom Blockchain platform, which will allow the provisioning of virtual assets and blockchain based services. Venom blockchain is building the first NFT marketplace in the UAE from ADGM as well as the issuance of first fiat backed stablecoin. Mustafa Kheriba, the Executive Chairman of Venomex, stated, “This is an exciting time for us at Venom...

  UAE ADGM (Abu Dhabi Global Market) has granted Klickl, a virtual asset service provider with offices in Hong Kong and Abu Dhabi, an in principle Approval license to operate as a digital asset broker and custodian. Michael Zhao, Co-Founder and CEO at Klickl said “The regulated route is the only route for any crypto company’s growth if it wants to be a serious player for the long run.   Long gone are the days where digital asset players enjoy early-mover advantage benefiting from fast growing bull market. Recent crypto market turbulence and big selloff caused by greed-led FOMO driven sentiment is just another example to show why the market needs proper risk control and compliance.” Formerly known as IDCM, the digital asset exchange group recently rebranded to Klickl representing the sound coins make when clicking in harmony and prosperity. Klickl aims to deliver that All-in One crypto super app which serves all crypto needs in the ever-evolving digital era. ADGM has ap...