**Komainu Eyes Expansion with Propine Acquisition**

Digital asset custody provider Komainu is set to acquire Singapore’s Propine Holdings, the parent company of Propine Technologies. The deal, pending approval from the Monetary Authority of Singapore (MAS), marks Komainu’s first acquisition. Propine holds a Capital Markets Services License, crucial for Komainu’s growth, according to CEO Paul Frost-Smith.

Once the acquisition is finalized, Komainu plans to apply for a Major Payment Institution license from MAS. This move aims to bolster Komainu’s presence in Asia, enhancing services like Komainu Connect, already popular in Hong Kong, Singapore, Malaysia, Thailand, and Australia.

Propine, which graduated from the MAS regulatory sandbox in 2021, will operate under the Komainu brand post-acquisition. Founded in 2018 with backing from Nomura, CoinShares, and Ledger, Komainu has expanded beyond Japan, securing licenses in Dubai and the UK.