Komainu, a joint cryptocurrency custody venture between Nomura, Ledger and Coinshares, has raised $75 million in a strategic investment from Blockstream Capital Partners, the company announced in a press release Thursday.
The deal is new in that it is funded by Bitcoin (BTC).
Komainu will establish its own BTC treasury to manage crypto provided by Blockstream, the company said.
The investment will be used to accelerate the custody company’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 margining and off-exchange settlement times.
Blockstream executives Adam Back, PeterPaul Pardi and Nicolas Brand will join Komainu’s board of directors.
“We are excited that Komainu is adopting Blockstream’s various technology streams to enhance its institutional services offering,” Adam Back, CEO and co-founder of Blockstream Corp, said in the release.
“This speaks to the fundamental truth of Bitcoin-related technologies and applications and is the first time they have entered the institutional arena,” he added.
Learn more: Nomura-backed Komainu aims to capitalize on the need for mature crypto infrastructure
