Komainu, the institutional crypto custody firm has received $75 million in strategic funding from Blockstream, the specialist Bitcoin developer. The digital asset custody firm is a joint venture between Nomura’s Laser Digital, security firm Ledger and asset manager Coinshares. We believe the last funding was a $25 million Series A round in 2021 led by Alan Howard’s Elwood Asset management.
The investment is in the form of Bitcoin and Komainu will hold Bitcoin as part of its treasury, with appropriate hedging.
Following the funding, Komainu will adopt several of Blockstream’s Bitcoin linked technologies. One is the Liquid Network, a Bitcoin sidechain targeting security token issuance that has been around for years. Blockstream itself has used it for issuances, as has Bitfinex, the cryptocurrency exchange associated with Tether. When El Salvador issued a Bitcoin Bond, it used Liquid. Plus, in 2021 Daiwa Securities trialed a corporate bond issuance on the network.
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