OKX Selects Crypto Storage Firm Komainu as Custodian for Institutions

OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, announced a partnership with Komainu, a digital asset custodian for institutions. Through the collaboration with the collateral management platform, Komainu Connect, OKX now offers institutional clients the ability to securely conduct 24/7 trading of segregated assets under custody on its own platform.

Komainu, a joint venture between Japanese investment bank Nomura, digital asset manager CoinShares and digital asset security company Ledger, received a minimal viable product (MVP) licence from Dubai​'s Virtual Assets Regulatory Authority (Vara) in November 2022.

OKX is the first client to use Komainu Connect, a regulated settlement and custody system for institutional customers that offers 24/7 trading with a mix of cold storage, multiparty computation (MPC) and hardware security modules (HSMs).

Lennix Lai, Global Chief Commercial Officer at OKX, said: "Institutions need the peace of mind that comes with knowing their assets are being kept safe with a leading custodian, while retaining their ability to capitalize when investment opportunities arise. That is why we are delighted to partner with Komainu to allow investors a way to keep their assets secure while not compromising on returns."

Nicolas Bertrand, CEO at Komainu, commented: "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."

Sebastian Widmann, Head of Strategy at Komainu, added: "Komainu Connect is rapidly emerging as the leading collateral management solution. Partnering with one of the world’s largest crypto exchanges is a testament to the infrastructure and expertise committed to this service and our focus remains on seamless execution for all parties."