Komainu Acquires Singapore's Propine Holdings To Expand In Asia

According to PANews, Komainu, a crypto custody firm backed by Nomura Holdings, has announced its acquisition of Singapore-based competitor Propine Holdings Pte Ltd. This marks Komainu's first acquisition and is subject to approval by the Monetary Authority of Singapore. Paul Frost-Smith, Komainu's co-CEO, stated that this move is part of the company's strategy to expand in Asia. The acquisition will grant Komainu a capital markets services license in Singapore, laying the groundwork for future growth. In addition to the acquisition, Komainu plans to apply for a major payment institution license in Singapore to offer comprehensive payment services. The company also intends to complete a new round of financing in the coming weeks, although specific financial details have not been disclosed.