- Komainu, the crypto custody joint venture of Nomura, Ledger, and Coin Shares, has added Hidden Road to its crypto collateral management platform.
- Hidden Road is the first prime broker to join the ecosystem.
Hidden Road Joins Komainu Connect
Hidden Road, a credit network for financial institutions, has joined Komainu’s crypto collateral management ecosystem, Komainu Connect.
As the first prime broker added to the ecosystem, this fosters the leverage of digital assets in collateralization scenarios while maintaining the security of assets in regulated custody.
“Hidden Road is a key addition to our expanding collateral management network, representing another piece of the puzzle in bringing this much-needed and institutional grade offering to the digital asset marketplace,” The CEO of Komainu, Nicholas Bertrand, said.
Komainu Connect was established in April 2023 to reduce client counterparty risks by providing safe and regulated custody for their assets instead of storing assets with counterparties.
“As we build out our offering to counterparties trading in traditional and digital assets, Hidden Road continues to cultivate partners that enable efficient and mature workflows with robust, modern approaches to risk and compliance. Thanks to its focus on security and regulation, Komainu Connect has the potential to unlock additional volume in institutional digital asset trading and is a natural addition to our partner network,” Michael Higgins, Global Head of Development at Komainu, stated in a press release.
As a technology-driven primer broker focused on clearing and financing across traditional and digital assets, Hidden Road’s addition to the crypto collateral management platform promises to boost the ecosystem.
Komainu, a Crypto Collateral Management Platform
According to its website, Komainu derived its name from lion-dog, stone guardians who guard the entrance to ancient Shinto tribes.
Komainu was established in 2018 with the joint support of Nomura, Ledger, and Coin Shares as a joint crypto custody venture designed to provide institutions with secure and compliant custody for digital assets investments.
Komainu offers multi-asset support with regulatory compliance. The digital asset custodian plans to merge traditional financial services with reliable security standards for asset custody.
The joint crypto custody venture has begun its process of expanding internationally.
In June, Komainu Connect welcomed OKX, one of the largest cryptocurrency exchanges in the world, to its crypto collateral management platform.
Nicholas Bertrand, the CEO of Komainu, summed up the significance of the partnership with OKX in a statement.
“This strategic partnership marks a milestone in our mission to provide secure and compliant digital asset custody solutions. OKX’s reputation as a leading cryptocurrency exchange, combined with our expertise in institutional-grade custody services, is paving the way for a new era of trust and innovation in the industry.”
In August, Komainu received its operating license from the Virtual Asset Regulatory Authority in Dubai.
According to its Head of Strategy, “Dubai has a vibrant digital asset ecosystem and impressive talent pool, and we are proud to contribute to the growth of this innovative financial hub. Our presence and desirable regulatory status in the region marks another differentiator for us as we execute the next phase of our business.”
