Digital asset custody provider Komainu has set its sights on acquiring Singapore's Propine Holdings, the parent company of local custody provider Propine Technologies. The transaction value remains undisclosed. Komainu's CEO mentioned that if approved, this acquisition would be their first, with potential for more in the future. The sale is subject to approval from the Monetary Authority of Singapore (MAS). Propine Technologies, holding a Capital Markets Services License from MAS for institutional custodial services, is deemed crucial by Komainu's co-CEO for their growth. Post-acquisition, Komainu plans to apply for a Major Payment Institution license from MAS. While currently focusing on Japan, Komainu aims to expand in Asia. Propine will operate under the Komainu brand post-acquisition, as confirmed by Propine's CEO. Komainu, established in 2018 with support from Nomura, CoinShares, and Ledger, has already obtained licenses from Dubai and the UK for its custodial services. Read more AI-generated news on: https://app.chaingpt.org/news