Leading Japanese Bank and Crypto Firms Launch Institutional-Grade Custody Service

Coinshares, the Digital Asset Management firm in the UK has partnered with Nomura and Ledger to launch a digital asset custody service. The new firm, Komainu, headquartered in Jersey will be lead by Coinshares CEO, Jean-Marie Mognetti. Komainu’s aim is to develop an institutional-grade custody business. It will provide multi-asset support, assurance with regulatory compliance and insurance.

Nomura is a financial services group and global investment bank in Japan, while Ledger is a leading hardware wallet company.  

The CSO of Coinshares, Meltem Demirors, noted in the press release,

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.

She talked about the growth of the custody in the industry apart from crypto exchanges is progressive. She tweeted of the ‘deposit displacement’ in crypto since March as Bitcoin is moving off of crypto exchanges. She tweeted,

thinking a lot about deposit displacement in crypto since march, ~10% of bitcoin “on exchange” moved “off exchange” (see @glassnode data) is this flow going to: