The crypto custodian Komainu plans to acquire Propine, awaiting approval from the Monetary Authority of Singapore

ChainCatcher news, Komainu, a compliant crypto custody company jointly established by Nomura Securities, Ledger, and Coinshares, plans to acquire its competitor Propine Holdings Pte Ltd. in Singapore.

Komainu's co-CEO Paul Frost-Smith stated in an interview that the acquisition of Propine is awaiting approval from the Monetary Authority of Singapore, which could be the first of several acquisitions. He declined to disclose the specific amount of the acquisition.

Frost-Smith mentioned that acquiring Propine would enable Komainu to obtain a capital markets services license in Singapore, adding that this is an absolutely critical factor for establishing the business. Komainu is accelerating its expansion in Asia, having established regulatory frameworks for digital assets in economies ranging from Singapore to Hong Kong and Japan over the past few years.