Komainu says FAB digital asset transfers completed

Komainu said it completed two-way transfers of a portfolio of digital assets with First Abu Dhabi Bank through an institutional digital asset custody framework established by the two firms.

The digital asset services provider and custodian said the transfers settled instantly and showed that the bank could move digital assets both into and out of the custody environment.

Komainu said the framework integrates regulated digital asset custody and connectivity capabilities with FAB Global Markets' existing infrastructure. It said the system was also designed to support future institutional financing, including lending backed by digital assets held in regulated custody.

Paul Frost-Smith, Komainu's group managing director, said the transfers showed that regulated custody could be integrated into a bank's existing systems and run as part of day-to-day operations.

Komainu said the milestone formed part of FAB's wider digital assets programme, including work on tokenised deposits and Swift ledger.