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Nomura-Backed Komainu Receives $75M Bitcoin Investment From Blockstream Capital
Blockstream CEO and co-founder Adam Back is to join Komainu's board of directors.
What to know:
- The investment completes Komainu's Series B fundraising and will be used to fund international expansion.
- Blockstream's CEO and co-founder Adam Back will join Komainu's board of directors
Komainu, a crypto custody joint venture between Nomura, Ledger and Coinshares, has raised $75 million in a strategic investment from Blockstream Capital Partners, the company said in a press release on Thursday.
The deal is novel in that it is funded with bitcoin (BTC).
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Komainu will establish its own BTC treasury to manage the crypto supplied by Blockstream, the company said.
The investment will be used to expedite the custody firm's strategic growth plans and for the adoption and integration of Blockstream technologies, Komainu said.
By using Blockstream's Liquid Network, Komainu will be able to significantly reduce off-exchange margining and settlement times.
Blockstream executives Adam Back, PeterPaul Pardi and Nicolas Brand will join Komainu's board of directors.
"We are delighted that Komainu is adopting Blockstream's various technology streams to enhance its institutional service offering," said Adam Back, CEO and co-founder of Blockstream Corp, in the release.
"This is testament to the fundamental veracity of Bitcoin-related technologies and applications and marks the first time that these have entered the institutional arena," he added.
Read more: Nomura-Backed Komainu Aims to Capitalize on the Need for Mature Crypto Infrastructure
Will Canny
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He's now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
