Komainu, a regulated custodian of digital assets for institutions, named former Italian stock exchange executive Nicolas Bertrand as its new chief executive on Monday. Bertrand’s appointment begins immediately and he will be based in London.

Bertrand previously served for more than 10 years at the Italian stock exchange Borsa Italia as head of commodity and derivatives markets.

As Komainu’s new CEO, Bertrand is expected to drive the company’s growth. While the executive has no plans to raise additional funds, he said he will focus on cutting spending and promoting innovation, according to the report. Bertrand further revealed that Koimanu has provisional approval to operate in Dubai and will seek a similar license for the UK.

Komainu is shown trying to recruit executives from the traditional financial exchange ecosystem. In April, the company attempted to recruit London Metal Exchange CEO Matthew Chamberlain, who ultimately opted to remain the metals market leader amid a nickel crisis associated with reduced nickel supply on the market. .

Komainu, founded in 2022, is a joint venture between the Japanese investment bank Nomura, digital asset manager CoinShares, and digital asset security company Ledger. In March of last year, Komainu raised $25 million in Series A funding led by hedge fund manager Alan Howard.

In July, Komainu obtained provisional approval to operate in Dubai. The Dubai Virtual Assets Regulatory Authority (VARA) license allowed the company to provide crypto products and services to institutional clients in Dubai. Komainu, which has already established a strong presence in the Asia-Pacific region, is looking to expand its business in the Middle East.

Dubai is emerging as a key player in the world of cryptocurrencies. In March, the city established VARA and has since licensed crypto exchanges such as FTX Europe, Binance, Crypto.com, and Bybit, among others. Dubai’s emergence as a crypto hub has been accelerated by tighter regulations in key crypto hubs like Singapore, where the city-state’s central bank and financial regulators have stepped up a crackdown on some crypto activities.

Image Source: Shutterstock