Key Points
- Komainu, a regulated digital asset custodian, has reached an agreement to acquire Propine Holdings Pte Ltd in Singapore, pending approval from the Monetary Authority of Singapore (MAS), marking a significant expansion of its institutional custody services in Southeast Asia.
- The strategic acquisition will enhance Komainu’s regional presence by combining its established custody infrastructure with Propine’s regulated digital asset services, particularly benefiting clients across Hong Kong, Singapore, Malaysia, Thailand, and Australia.
Komainu, the institutional-grade digital asset custodian, announced today its plans to acquire Singapore-based Propine Holdings Pte Ltd, in a move that underscores the growing importance of regulated digital asset services in Asia. The acquisition, subject to MAS approval, positions Komainu to better serve the increasing institutional demand for secure digital asset custody solutions in the region.
Enhancing Regional Service Capabilities
The merger will significantly boost Komainu’s operational capabilities in Singapore, establishing a new regional hub for its custody and digital asset services. The combined entity will leverage Propine’s existing regulatory framework in Singapore, including its Capital Markets Services License for custodial services and Digital Payment Token services exemption under the Payment Services Act 2019.
Paul Frost Smith, Komainu’s Co-CEO, emphasized the strategic importance of the acquisition, stating that Singapore serves as a crucial hub for their Asian operations. The move will particularly benefit their Komainu Connect collateral management service, which has already gained significant traction among institutional investors across major Asian markets.
Technology Integration and Client Benefits
Robert Johnson, Co-CEO and CTO at Komainu, highlighted how the acquisition will expand their technological capabilities and asset support range. The integration aims to provide clients with enhanced flexibility in choosing technology solutions while maintaining the highest security standards required by institutional investors.
“This combined infrastructure will empower institutional clients to navigate digital asset custody with greater confidence,” Johnson explained, emphasizing the focus on performance, scalability, and security.
Tuhina Singh, Propine’s CEO, expressed enthusiasm about joining forces with Komainu and its backer, Laser Digital, viewing the acquisition as an opportunity to expand their regional presence under the Komainu brand.
The timing of this acquisition reflects the broader trend of consolidation in the digital asset custody space, as institutions seek regulated, secure, and compliant solutions for their digital asset holdings. With offices across Jersey, London, Dubai, and now an enhanced presence in Singapore, Komainu continues to strengthen its position as a leading institutional digital asset custodian with multi-jurisdictional regulatory oversight.
