Propine
AcquiredEntrepreneur First '18Singapore, SG · Founded 2018 · 6 known investors
Propine provides custody services for digital assets held by institutions. The company operates cold storage built on its own hardware and software, with continuous monitoring, third-party audits, and insurance on stored holdings. Its customers are regulated institutional entities that must meet compliance requirements when holding crypto assets.
Also known as Propine Capital · Propine Global · Propine Holdings · Propine Technologies Pte. Ltd.
Founders & leadership
Propine was founded in 2018 by Tuhina Singh and Zan Wong.
Investors · 6
Company profile
researched Aug 2026Propine (registered as Propine Technologies Pte. Ltd., also referenced as Propine Holdings, Propine Capital and Propine Global) is a Singapore-headquartered digital asset custody provider established in 2018. It offers custody and securities services for cryptocurrencies and tokenised assets, positioning itself as a full-service custodian built from the ground up for institutional clients, with compliance, insurance and full audit coverage alongside a set of value-added services.
The company's stated focus is meeting the security and regulatory compliance requirements of financial institutions holding digital assets. Public profiles describe its plans to expand custody services across new Asia Pacific markets and to establish a regional centre for custodial services. In October 2024 Komainu announced an agreement in principle to acquire Propine Holdings, which would give Komainu a Singapore hub for its digital asset and custody services.
Founding story
Co-founded by CEO Tuhina Singh, who had 16 years of finance industry experience and was previously an interbank trader before joining the Singapore crypto community, holding a Master's from the Indian Institute of Management, Lucknow and a Bachelor's in Computer Science from BITS Pilani; and CTO Liang Zan Wong, with 13 years of experience building scalable enterprise software teams and an Electrical Engineering degree from the National University of Singapore [4].
Business model
Propine supplies digital asset custody and related securities services to institutional clients, storing and administering cryptocurrencies and tokenised assets under compliance, insurance and audit arrangements [2][4].
Traction
Preqin reports fiscal year 2023 revenue of USD 189,395 and EBITDA of USD -4,373,912, and lists earlier losses including net income of USD -271,777 for the fiscal year ended 28 February 2019 and USD -712,063 for the year ended 29 February 2020. A company valuation of USD 53.416 million is cited alongside total funding of USD 3.40 million [2].
Latest developments
On 22 October 2024 Komainu announced an agreement in principle to acquire Propine Holdings, expanding Komainu into Singapore. Komainu co-CEO Paul Frost Smith cited Singapore as a strategic Asian hub and referenced client demand for Komainu Connect, its collateral management service; Propine CEO Tuhina Singh said the company would expand its offering across Asia Pacific with Komainu's backing [5]. Preqin lists the company stage as acquired [2]. As of the sources fetched, the propine.com domain resolves to unrelated third-party content [0][1].
▸Full profile — market position, go-to-market, geography, history, risks & controversies
Market position
Described by SGInnovate as the first full-service custodian built from the ground up for institutional clients based out of Singapore; Preqin classifies it under financial services with blockchain and FinTech verticals [2][4].
Go-to-market
Institutional investors and financial institutions that hold cryptocurrencies and tokenised assets and must satisfy regulatory compliance and security requirements [2][4].
Geography
Headquartered in Singapore, with stated plans to expand digital asset custody services into new Asia Pacific markets and to establish a regional custodial services centre; the Komainu transaction was framed as creating a Singapore regional hub serving Asia Pacific, including client demand in Hong Kong [2][5].
History
Established in Singapore in 2018 [2][4]. Preqin records five deals in total, including an extended seed stage and a Series B round of USD 3.40 million, and lists Entrepreneur First, ChainFunder and Decacorn Capital as investors [2][3]. On 22 October 2024, Komainu announced an agreement in principle to acquire Propine Holdings, and Preqin marks the company stage as acquired [2][5].
Risks & controversies
The propine.com and promise.propine.com domains now serve content for an unrelated online gambling site, indicating the original web presence is no longer operating at that address [0][1]. Financial disclosures show sustained operating losses relative to modest revenue [2].
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 1
launches, deals, and filingsKomainu announced an agreement in principle to acquire Propine Holdings, a provider of digital asset custody through Propine Technologies, giving Komainu a Singapore regional hub for its digital asset and custody services. Preqin records the deal as completed on 22 October 2024 and lists the company stage as acquired.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 7
primary sources listed
- Propinepropine.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Propine do?
- Singapore-based institutional digital asset custodian acquired by Komainu in an October 2024 deal.
- Who founded Propine?
- Propine was founded by Tuhina Singh, Zan Wong in 2018.
- Who are Propine's investors?
- Propine's investors include Entrepreneur First, Woodstock Fund, ChainFund Capital, Decacorn Capital, LuneX Ventures, SGInnovate.
- Where is Propine headquartered?
- Propine is headquartered in Singapore, SG.