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Komainu Plans Expansion Through Acquisition of Singapore's Propine

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2 hours ago


Komainu is set to acquire Singapore-based Propine Holdings in its first move to expand its presence in Asia.

Komainu's Deal with Propine

Komainu has announced its intention to acquire Propine, a local Singaporean company specializing in the custody of digital assets. Details of the transaction have not been disclosed.

Significance of Propine's License

Propine holds a Capital Markets Services License from Singapore's Monetary Authority, allowing it to provide institutional custodial services. This is a key factor for Komainu, which also plans to apply for a Major Payment Institution license from MAS.

Propine will enhance our capabilities in meeting the significant client demand we are experiencing, including for Komainu Connect.Paul Frost-Smith

Komainu's Expansion Strategy

Founded in 2018, Komainu has been actively expanding. The company holds a full operating license from Dubai's Virtual Asset Regulatory Authority and is registered as a custodian wallet provider in the UK by the FCA. After acquiring Propine, the company will continue its operations under the Komainu brand.

The acquisition of Propine marks a strategic move by Komainu to expand its presence in the Asian market and enhance its asset management services.

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