Komainu Partners with Copper’s ClearLoop for Secure Crypto Custody and Trading
Komainu, a crypto custody venture involving Nomura, Ledger, and CoinShares, is entering Copper’s ClearLoop network, enabling institutional clients to trade while enjoying regulated on-chain custody.
This move addresses growing concerns about custody and counterparty risks, especially after the FTX crypto exchange’s collapse last year. ClearLoop’s innovative solution connects various exchanges in a single network, allowing investors to retain assets until right before trade execution, thus reducing counterparty risk and eliminating the need to transfer assets to an exchange-based wallet.
Komainu’s CEO, Nicolas Bertrand, emphasized the partnership’s commitment to introducing proven best practices from traditional financial markets to meet the rising demand for diversified counterparty risk among digital asset participants. The partnership is awaiting finalization of legal documentation, and Komainu recently registered with the UK’s Financial Conduct Authority (FCA).
Clever Robot News Desk 20th October 2023