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 because it is funded by bitcoin (BTC).
Komainu will establish its own BTC treasury to manage the crypto provided by Blockstream, the company said.
The investment will be used to accelerate 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 pleased that Komainu has adopted 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 reality of Bitcoin-related technologies and applications and marks the first time that they have entered the institutional arena,” he added.
Read more: Nomura-Backed Komainu Aims to Capitalize on Need for Mature Crypto Infrastructure
