Komainu, a regulated digital asset custodian, has announced its intention to acquire Propine Holdings, a Singapore-based digital asset custody provider.
The deal, which is pending approval from the Monetary Authority of Singapore, will strengthen Komainu’s presence in Singapore and Southeast Asia, excluding Japan.
This acquisition will allow Komainu to leverage Propine’s established infrastructure and regulatory compliance in Singapore.
By combining their expertise, the two companies aim to provide clients with enhanced security, advanced technology solutions, and a wider range of supported assets.
Paul Frost Smith, Co-CEO at Komainu, said,
“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.
Asia Pacific is central to Komainu’s heritage and having a strong presence in Singapore will enable us to leverage talent across the region as well as better serve our Asia-based clients in their own time zone.”
Robert Johnson, Co-CEO and CTO at Komainu, said,
“This acquisition will allow us to offer even greater choice to our clients in the technology solutions they adopt to keep their assets safe and secure, and strengthens our existing Asia operations team.
At Komainu, we offer bespoke services to our clients and this acquisition will expand the types of solution we can offer as well as the range of assets we support. Our combined infrastructure will further empower institutional clients in confidently navigating the complexities of digital asset custody, ensuring the highest levels of performance, scalability and security.”
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