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Nomura-backed Komainu partners Crypto Garage for institutional crypto services

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Komainu, a digital asset custodian backed by Japan’s largest investment bank, Nomura, announced a partnership with Crypto Garage to develop institutional crypto services in Japan.

See related article: UK plans to introduce fiat-backed stablecoin rules in early 2024

Fast Facts

  • The firms will jointly develop custody solutions for institutional clients with plans to release other institutional crypto services in Japan in the future.
  • Crypto Garage, a subsidiary of Digital Garage, a Tokyo-headquartered payment technology firm, said in a press release on Wednesday that the partnership was formed due to the growing interest of Japanese institutions in cryptocurrencies. 
  • Nomura launched a Bitcoin adoption fund for institutional investors In September through its digital asset subsidiary Laser Digital Asset Management. The US$500 billion investment bank said that the fund is just the first in a range of digital asset investment solutions it plans to launch.
  • Komainu received an operating license from Dubai’s Virtual Asset Regulatory Authority in late August.

See related article: Singapore, Japan, Switzerland and U.K. to collaborate on digital assets pilots

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