In a rather unconventional Series B funding round, the Jersey-based cryptocurrency custody company Komainu will reportedly secure a $75 million Bitcoin investment, subject to regulatory approval, from Blockstream – a company specializing in Bitcoin-centric cryptographic financial infrastructure.
As reported through a statement sent to CryptoGlobe, the digital asset company Komainu has been supported by Laser Digital – a subsidiary belonging to the significant Japanese financial group, Nomura.
This financial assistance will aid Komainu in broadening its operations globally and incorporating Blockstream’s technology to boost their client support services. What makes this agreement distinctive is that the payment for it will be made using bitcoin, with Komainu planning to establish a Bitcoin reserve (treasury) instead of converting these funds into traditional currency (fiat).
Adam Back, the head of Blockstream, conveyed his joy over this strategic alliance and shared his anticipation for Komainu’s utilization of their technology.
He declared: “This demonstrates the solid truth behind Bitcoin technologies and applications, as they now enter the institutional sector for the very first time. I believe this is just the beginning, with more instances of such use cases emerging as the institutional community starts to recognize the power of the Lightning and Liquid Networks.
Speaking about the partnership, Komainu’s Co-CEO, Paul Frost-Smith, expressed his views on how it would significantly enhance their service portfolio.
Through this collaboration with Blockstream, we’ll significantly upgrade our service offerings, improving the overall experience for our customers in numerous ways. Having a technology partner like Blockstream, one of the pioneers in the digital assets sector, underscores our commitment to being the leading provider of digital asset services for Bitcoin and institutional markets. This partnership also supports our goal of boosting institutional adoption.
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2025-01-16 19:22