Key Points
- Komainu, a digital assets custodian, has raised $75 million in a Series B funding round.
- The entire funding was done in Bitcoin, and it will be used to boost Komainu’s global expansion and technology adoption.
Digital assets custodian, Komainu, backed by Nomura, has successfully completed a Series B funding round raising $75 million.
The funding came entirely in Bitcoin (BTC) from the venture arm of Bitcoin infrastructure company, Blockstream.
Implications for Komainu’s Growth
This funding, subject to approval from relevant authorities, will significantly boost Komainu’s potential for global expansion.
The Jersey-based firm also plans to establish its own Bitcoin treasury.
Komainu’s plans for international growth have been steadily gaining traction.
In October, the company expanded into Asia, starting with Singapore, by acquiring crypto custodian Propine.
The firm’s partnership with Blockstream is a further step towards growth, as Komainu aims to utilise Blockstream’s technologies for expansion.
Strategic Partnership with Blockstream
Komainu will use Blockstream’s Liquid Network to improve client services in collateral management and tokenization.
This integration with the Liquid Network could drastically reduce the time for its off-exchange margining and settlement solution, Komainu Connect.
The expected settlement time will reduce from hours to minutes, simplifying operations for international clients.
The partnership also brings other benefits to Komainu, including Blockstream’s AMP technology and its enterprise HSM wallet.
The AMP technology will help Komainu automate regulated asset tokenization and develop trustless trading solutions through the API platform.
The HSM wallet offers institutional clients a wider range of bank-grade digital asset services.
Additionally, Blockstream’s top executives, including Adam Back, PeterPaul Pardi, and Nicolas Brand, will join Komainu’s board.
Boosting Institutional Bitcoin Adoption
Komainu co-CEO Paul Frost-Smith expressed optimism about the partnership with Blockstream, reiterating his firm’s commitment to becoming a leading provider of digital asset services for Bitcoin.
He also noted that the partnership will drive further institutional adoption, enhancing Komainu’s reputation within the crypto space.
Blockstream continues to make strides within the Bitcoin ecosystem, having raised $210 million in convertible note financing.
The firm has committed the funds to expand its mining business, promote its Layer 2 technologies, and strengthen its Bitcoin treasury.
