In what can perhaps best be described as an unusual Series B fundraising round, Komainu, a Jersey-headquartered crypto custody firm, is set to receive — regulatory approval — a $75 million investment in BTC from Blockstream, a Bitcoin-focused crypto-financial infrastructure firm.
According to a press release shared with CryptoGlobe, Komainu is backed by crypto firm Laser Digital, which is a subsidiary of Japanese financial services Giant Nomura.
This funding will help Komainu with its international expansion and allow it to adopt Blockstream’s technologies to enhance its client services. What is fairly unique about this deal is that it is being paid for with bitcoin and that rather than converting these funds to fiat currency, Komainu intends to set up a BTC treasury.
Adam Back, the CEO of Blockstream, expressed his delight at this strategic partnership and his excitement about Komainu adopting their technology.
He stated: “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. I am confident this will be the first of many such use cases as the institutional community wakes up to the power of the Lightning and Liquid Networks.”
As for Komainu Co-CEO Paul Frost-Smith, he commented on how this collaboration would transform the firm’s service offerings:
“This partnership with Blockstream will transform the services we are able to offer and enhance our customer experience on many levels. Having a closely-aligned technology partner like Blockstream, one of the original visionaries in the digital assets ecosystem, is testament to our determination to become the go-to provider of digital asset services for Bitcoin and the institutional market, as well as increasing institutional adoption.”
Featured Image via Pixabay
