Komainu, a regulated digital asset custodian, has introduced its intention to amass Propine Holdings, a Singapore-based digital asset custody supplier.
The deal, which is pending approval from the Financial Authority of Singapore, will strengthen Komainu’s presence in Singapore and Southeast Asia, excluding Japan.
This acquisition will permit Komainu to leverage Propine’s established infrastructure and regulatory compliance in Singapore.
By combining their experience, the 2 corporations goal to offer shoppers with enhanced safety, superior expertise options, and a wider vary of supported property.
Paul Frost Smith, Co-CEO at Komainu, mentioned,
“Singapore is a crucial strategic hub for Komainu in Asia and Propine will improve our capabilities in assembly the numerous shopper demand we’re experiencing, together with for Komainu Join, our collateral administration service, which is already extensively utilised by our investor shoppers in Hong Kong, Singapore, Malaysia, Thailand and Australia.
Asia Pacific is central to Komainu’s heritage and having a robust presence in Singapore will allow us to leverage expertise throughout the area in addition to higher serve our Asia-based shoppers in their very own time zone.”
Robert Johnson, Co-CEO and CTO at Komainu, mentioned,
“This acquisition will permit us to supply even larger option to our shoppers within the expertise options they undertake to maintain their property protected and safe, and strengthens our current Asia operations staff.
At Komainu, we provide bespoke companies to our shoppers and this acquisition will broaden the varieties of answer we will supply in addition to the vary of property we help. Our mixed infrastructure will additional empower institutional shoppers in confidently navigating the complexities of digital asset custody, making certain the very best ranges of efficiency, scalability and safety.”
Featured picture credit score: Edited from Freepik
