- Komainu secures $75 million in Bitcoin funding from Blockstream Capital to drive worldwide growth and integrate advanced crypto solutions.
- The funding will establish a Bitcoin treasury for risk management and incorporate Blockstream’s Liquid Network for faster transactions.
- Komainu plans to expand into key markets, starting with Singapore and Japan, followed by the US and Switzerland.
- Blockstream CEO Adam Back will join Komainu’s board, strengthening their partnership.
Komainu Holdings, the cryptocurrency custody firm backed by Nomura’s Laser Digital, just made headlines by raising $75 million in Bitcoin.
https://x.com/bnbcaptain/status/1879831579775905818
This funding comes from Blockstream Capital Partners and will fuel Komainu’s plans for global expansion, improve their tech offerings, and set up a Bitcoin treasury to manage risks.
What’s the $75M for?
This isn’t your average funding round. The entire $75 million was raised in Bitcoin, making this a first-of-its-kind move for a Series B round. The funds will be used to:
- Expand Globally: Komainu is focusing on markets like Singapore and Japan first, with plans to enter the US and Switzerland later.
- Adopt Advanced Tech: They’ll use Blockstream’s Liquid Network, which helps speed up settlement times for transactions, and AMP technology to handle tokenized assets more efficiently.
- Build a Bitcoin Treasury: Komainu plans to hold Bitcoin as part of its funds and use it for strategies like risk management, hedging, and generating returns.
Paul Frost-Smith, Komainu’s co-CEO, explained why this funding is a big deal:
“Raising $75 million entirely in Bitcoin is a milestone, and it lets us keep growing while exploring ways to improve how we work with digital assets.”
Blockstream Joins the Mission
As part of the deal, Adam Back, CEO of Blockstream, is joining Komainu’s board of directors. His team will play a big role in helping Komainu roll out new services and integrate cutting-edge technology.
https://x.com/DisruptionBank/status/1879830890656002186
Blockstream’s tools—like its hardware security module wallet—will allow Komainu to offer a wider range of services to its institutional clients.
Big Expansion Plans
Komainu isn’t shy about its ambitions. After acquiring Singapore-based crypto custodian Propine Holdings last year, the company is now seeking a Major Payment Institution license from Singapore’s central bank.
With Asia as its starting point, Komainu is setting its sights on the US and Europe next. According to Frost-Smith:
“We’re seeing huge demand for compliant digital asset services, and this funding gives us the resources to deliver on that demand.”