Komainu, a cryptocurrency 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 agreement is novel because it is financed with bitcoin (BTC).
Komainu will establish its own BTC treasury to manage cryptocurrencies supplied 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 utilizing Blockstream’s Liquid Network, Komainu will be able to significantly reduce off-exchange margin 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 embracing Blockstream’s various technology streams to enhance its institutional services offering,” Adam Back, CEO and co-founder of Blockstream Corp, said in the statement.
“This is testament to the fundamental veracity of Bitcoin-related technologies and applications and marks the first time they have entered the institutional arena,” he added.
Read more: Nomura-backed Komainu aims to capitalize on need for mature crypto infrastructure
