Cryptocurrency custodian Komainu plans to acquire Propine, pending approval from the Monetary Authority of Singapore.

According to TechFlow, on October 22, Komainu, a compliant crypto custody company jointly established by Nomura Securities, Ledger, and Coinshares, plans to acquire its Singaporean competitor Propine Holdings Pte Ltd. 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 indicated that acquiring Propine would allow 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 across economies such as Singapore, Hong Kong, and Japan over the past few years.

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