CoinShares launches digital asset custody joint venture
CoinShares has launched a new digital asset custody business for institutional investors, Komainu, under the leadership of CoinShares’ CEO, Jean-Marie Mognetti.
Komainu is a joint venture CoinShares' parent company, Nomura, and hardware wallet provider Ledger, and it will expand and strengthen CoinShares' operations across asset management, advisory, and capital markets.
After surveying the existing custody market and finding no existing products to meet its security standards or the needs of its business, CoinShares partnered with hardware wallet provider Ledger and investment bank Nomura to develop an institutional-grade custody business. Komainu is a hybrid institutional-grade custody platform made to seamlessly integrate with legacy financial technology.
Meltem Demirors, chief strategy officer of CoinShares, comments: “As pioneers in this space we find ourselves playing a role in creating the critical infrastructure needed to bring digital asset investing to the forefront of the financial industry. It was critical to collaborate with Ledger, creator of the most widely-used wallets in the industry, and Nomura, a leading investment bank, to ensure that Komainu provides best in class financial services with the enterprise-level security needed to promote institutional acceptance of the digital asset class.”
In the short span of just a few months, the digital asset industry has rapidly evolved, with cryptocurrency firms building vertically integrated solutions for the digital asset market, which merge various aspects of the trade lifecycle into one platform. CoinShares led this evolution within their own ecosystem, creating a unified screen for its trading team to facilitate connecting to trade execution across venues from the beginning. CoinShares created these capabilities internally out of necessity, but with more institutional investors entering the space, CoinShares now offers this electronic connectivity to the broader market, and several fintech and trading firms are following suit to provide a similar offering. Komainu elevates CoinShares’ current market footprint by bringing together banking, asset management, and cyber-security expertise.