Nomura-Backed Komainu Set to Acquire Propine Holdings Pending MAS Approval
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Komainu, a cryptocurrency custodian backed by Nomura Holdings, is set to make its first acquisition with the purchase of Singapore-based Propine Holdings Pte Ltd.
The deal is currently awaiting approval from the Monetary Authority of Singapore (MAS), the firm said in a statement released on Tuesday.
Per the announcement, the acquisition of Propine will grant the firm a Capital Market Services license in Singapore, a crucial element for growing its business in the region.
The move is part of a broader plan to strengthen Komainu’s presence in Asia, where regulatory frameworks for digital assets have become increasingly established in markets like Singapore, Hong Kong, and Japan.
Komainu also plans to apply for a Major Payment Institution license in Singapore, enabling it to offer full payment services.
The company has seen rising interest from private banks, hedge funds, and asset managers, particularly in Singapore, for its advisory and collateral management services.
“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,” Komainu co-Chief Executive Officer Paul Frost-Smith said.
Japan remains a key market for Komainu due to its strong ties with Nomura, and Frost-Smith highlighted that the country will play a pivotal role as the company
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