Golden Finance reports that Komainu, a cryptocurrency custody company backed by Nomura Holdings, is acquiring its Singaporean competitor Propine Holdings Pte Ltd. This marks Komainu's first acquisition. Komainu co-CEO Paul Frost-Smith stated in an interview that the acquisition of Propine is awaiting approval from the Monetary Authority of Singapore, and he declined to disclose the price at which Komainu is acquiring Propine. Frost-Smith mentioned that Komainu will also apply for a so-called "Major Payment Institution" license in Singapore, which will allow the company to offer full payment services. He said the company is seeing a growing demand from Singapore's private banks for consulting services, as well as from hedge funds and other asset management companies for collateral management services.