Komainu, the digital asset custodian backed by Nomura, Ledger and Coinshares, announced an agreement in principle to acquire Singapore custody firm Propine for an undisclosed amount. Given Propine is regulated by the Monetary Authority of Singapore (MAS), the acquisition requires regulatory approval. Other Komainu investors include entities controlled by Alan Howard (former Brevan Howard CEO) and Galaxy.
Singapore will become a new regional hub for both digital asset custody and other digital asset services that Komainu provides, including collateral management and staking.
“Singapore is an important strategic hub for Komainu in Asia and Propine will enhance our capabilities in meeting the significant client demand we are experiencing, including for Komainu Connect, our collateral management service, which is already extensively utilised by our investor clients in Hong Kong, Singapore, Malaysia, Thailand and Australia,” said Paul Frost Smith, Co-CEO at Komainu.
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