Komainu, a cryptocurrency custodian backed by Nomura Holdings, is acquiring Singaporean rival Propine Holdings Pte Ltd., in its first acquisition. Komainu co-CEO Paul Frost-Smith said in an interview that the Propine acquisition is pending approval from the Monetary Authority of Singapore, declining to disclose the price Komainu paid for Propine. Mr. Frost-Smith said Komainu would also apply for a so-called "Major Payment Institution" licence in Singapore, which would allow it to offer payment services across the board. He said the company was seeing growing demand from private banks in Singapore for advisory services and collateral management services from hedge funds and other asset managers.