Japanese financial holdings company Nomura, crypto wallet manufacturer Ledger, and management consulting firm Global Advisors have announced a collaboration to form ‘Komainu’, a secure digital asset custody solution.

The initiative is specifically targeted towards creating digital asset storage options for institutional investors and crypto firms who have large storage needs; Komainu is also attempting to address the need for storage solutions compliant with regulations.

An announcement by all three parties involved reads that Komainu “will provide infrastructure and an operational framework to the wider investment management industry and enable investors to embed or implement a consistent set of best practice standards within their businesses.”

Crypto Custody Solutions Become More Popular

Nomura’s Global Chief Digital Officer, Jez Mohideen, believes that a good crypto custody solution could facilitate the entry of new institutional investors into the space: “global investment managers have long been held back from full participation in digital asset markets, limited by operational and regulatory risk.” Of course, he also believes that Komainu is the firm for the job.

As cryptocurrency and the blockchain industry as a whole continue to veer toward the corporate world, offerings of custodial services for digital assets are becoming more popular. Coinbase launched ‘Coinbase Custody’ earlier this year; State Street, the world’s second-largest custody bank, announced that it was considering launching a crypto custody service in January.

Therefore, the space is not without competition. However, Ledger’s well-established reputation as a source of reliable crypto storage technology combined with the investment-savvy ways of Nomura and Global Advisors could make Komainu a formidable new player in the market.

Co-Principal of Global Advisors Jean-Marie Mognetti said that her company has been searching for a “robust” custody solution since its first digital asset trade in 2012. “This partnership is a progressive stepping stone towards the creation of the necessary prerequisites for further growth within the digital asset ecosystem. This will open new and exciting opportunities to global participants and contribute to move digital asset closer to mainstream offerings.”

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source: https://www.financemagnates.com/cryptocurrency/news/nomura-launches-collaboration-create-digital-asset-custody-solution/

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