Updated:
Komainu
Komainu was founded in 2018 as a joint venture between Nomura, CoinShares, and Ledger, specifically to bridge the gap between traditional financial...
Komainu
Komainu was founded in 2018 as a joint venture between Nomura, CoinShares, and Ledger, specifically to bridge the gap between traditional financial institutions and digital asset markets. The firm's origin is a deliberate hybrid of conventional and crypto-native finance expertise, embedding governance, compliance, and security architecture into its custody infrastructure from its inception. Its headquarters remain in Jersey, a jurisdiction that granted it regulatory approval as a custodian in 2019. The firm delivers a platform built around regulatory-grade custody, using a combination of Multi-Party Computation and Hardware Security Module wallet technology. Its service layers extend into Komainu Connect, which enables clients to trade, borrow, or lend assets without them leaving custody, custodial staking that allows yield generation on idle assets, and Komainu CORE, a collateral-as-a-service offering launched in April 2026 that transforms digital assets into compliant collateral for institutional counterparties. Geographic reach spans Europe from its Jersey base and the Middle East through its Dubai office, which secured a Virtual Asset Service Provider license from the Virtual Asset Regulatory Authority in 2023. The company's capital base was built through a $25 million Series A in 2021 and a $75 million Series B fundraise in 2025, the latter bringing in Blockstream as a strategic investor alongside existing backers. This capital supported its 2025 financial-crime registration with the UK's Financial Conduct Authority and Italy's OAM registry. Co-CEO Robert Johnson leads technology development, having joined in October 2023, while Co-CEO Paul Frost-Smith, who arrived in May 2024, drives commercial strategy and expansion. In April 2026, Komainu launched Komainu CORE, its collateral-as-a-service offering for institutions. The firm's architecture is a direct operational partnership between financial incumbents and core infrastructure builders. It operates not as a standalone fintech but as a regulated entity jointly governed by a board that includes Adam Back, Blockstream's CEO, alongside Laser Digital executives, the digital-asset arm of Nomura. This structure means its roadmap is directly aligned with both the deepest bitcoin protocol development and the strictest institutional compliance requirements.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
Europe
Country
Jersey
City
Jersey
Corporate office
Jersey, Channel Islands
Additional offices
Dubai, United Arab Emirates
Principals
Paul Frost-Smith
Co-Chief Executive Officer
Robert Johnson
Co-Chief Executive Officer & Chief Technology Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Komainu?
Komainu is an infrastructure and service provider, not an investment manager, so it does not make proprietary investment decisions on behalf of clients. Operational and strategic leadership is shared by Co-CEOs Paul Frost-Smith, who joined in May 2024 and focuses on business strategy and expansion, and Robert Johnson, who joined in October 2023 and leads technology and platform development.
Is Komainu structured as a single family office or does it operate more like a venture firm?
Komainu is neither — it functions as a regulated digital asset custody and services platform. It was founded in 2018 as a joint venture by Nomura, the global investment bank, CoinShares, the digital asset investment firm, and Ledger, the hardware security company. The firm generates revenue through custody fees, staking and collateral services, and trading connectivity.
How does Komainu source its institutional clients?
Komainu's client pipeline is built directly through the traditional finance relationships of its founding partners and leadership team. Its board includes executives from Nomura's digital asset arm, Laser Digital, and its co-CEOs bring decades of institutional capital markets experience from firms such as JPMorgan, Credit Suisse, and MUFG Securities. Additionally, its regulatory approvals in Jersey, Dubai, the United Kingdom, and Italy serve as a funnel for compliance-sensitive allocators and banks.
Does Komainu participate in fund commitments or only direct deals?
Komainu does not deploy capital into external funds or direct deals. Its model is to provide the technological and regulatory infrastructure for institutions that want to hold, trade, or use digital assets as collateral. The company itself has raised capital from strategic investors, including a $75 million Series B led by Blockstream in 2025, but it acts as the picks-and-shovels provider, not an allocator.
How is Komainu related to Nomura, CoinShares, and Ledger?
Komainu was established as a standalone joint venture by the three firms in 2018. They remain strategic shareholders and continue to influence governance through board seats: Nomura's digital asset division, Laser Digital, holds representation, and Blockstream — a later strategic investor — also has board participation. The venture operates independently with its own management, balance sheet, and regulatory perimeter.
What regulatory licenses does Komainu hold?
Komainu holds regulatory approval from the Jersey Financial Services Commission, a Virtual Asset Service Provider license from Dubai's VARA since 2023, crypto registration from the UK Financial Conduct Authority, and registration with Italy's OAM registry, both obtained in 2025. The firm has built its compliance framework around multi-jurisdictional operation from its inception.
Does Komainu maintain philanthropic structures?
There is no publicly disclosed philanthropic structure attached to Komainu. The firm operates purely as a for-profit digital asset infrastructure company, focused on generating commercial returns through custody, staking, and collateral management services for institutional clients.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: