What to know:
- SBI Holdings acquires majority stake in Coinhako following Monetary Authority of Singapore regulatory approval.
- Acquisition strengthens SBI’s digital asset expansion across Japan and Southeast Asia’s regulated crypto markets.
- Coinhako’s MAS license enhances SBI’s ambitions in stablecoins, tokenization, and blockchain-based financial services.
Japanese financial services giant SBI Holdings has acquired a majority stake in Singapore-based cryptocurrency exchange Coinhako, strengthening its push into regulated digital assets, stablecoins, and tokenized finance across Asia.
The transaction was completed on July 16 through SBI’s Singapore subsidiary, SBI Ventures Asset Pte. Ltd., after receiving approval from the Monetary Authority of Singapore (MAS).
The deal involved a capital injection into Coinhako’s parent company, Holdbuild Pte. Ltd., alongside the purchase of shares from existing investors, making Coinhako a consolidated subsidiary. Financial terms were not disclosed.
Source: SBI Holdings
Also Read: SBI Holdings Expands Japan Crypto Push With bitbank Acquisition Deal
Singapore Becomes Key to SBI’s Crypto Expansion
The acquisition advances the SBI Holdings’ strategy to build a cross-border digital asset ecosystem linking Japan and Southeast Asia. Singapore has become a cornerstone of that strategy because of its clear regulatory framework and growing importance as a regional financial hub.
Coinhako is among Singapore’s longest-running crypto platforms. It operates through Hako Technology Pte. Ltd., which holds a Major Payment Institution license from MAS, allowing it to provide regulated digital payment token services. The group also operates Alpha Hako Ltd., a crypto asset service provider registered in the British Virgin Islands.
According to SBI Holdings, merging Coinhako’s customer base, regulatory experience, and network with its financial products and technological capabilities will help them expand into the realm of stablecoins, tokenization, on-chain finance, and international digital asset services.
SBI Holdings Eyes Asia Crypto Growth With Coinhako Deal
The acquisition comes after the tie-up between SBI and blockchain startup Startale, which develops JPYSC, the world’s first trust-backed yen stablecoin. Coinhako is cited to help improve SBI’s digital finance ecosystem and create connections between Japan and Southeast Asia.
Yoshitaka Kitao, chairman and president of SBI, noted that SBI plans to form “a global corridor for digital assets” via regulation-compliant exchanges. Yusho Liu, CEO and co-founder of Coinhako, noted that joining forces with SBI will help the firm to acquire everything it needs to grow in the Southeast Asian region.
SBI’s Growing Institutional Digital Asset Strategy
This is happening amid a period of rapid growth in cryptocurrencies for SBI Holdings. Just last month, SBI Holdings raised $76 million in a Series C funding round for EDX Markets, an institutional exchange.
In addition, SBI Holdings has revealed its intentions to purchase Bitbank, a Japanese cryptocurrency exchange, for about $289 million. SBI also recently partnered with Ondo Finance on tokenized Japanese stocks and blockchain-based settlement initiatives.
This is part of a larger trend where established financial players are purchasing regulated cryptocurrency operations, as opposed to concentrating on trading platforms alone.
With increasing demand for stablecoins and tokenized securities, SBI aims to position itself as a major player in offering regulated digital asset services in Asia, with Singapore acting as the entry point into the region.
What Happens Next
Coinhako is likely to be part of SBI’s digital assets platform with an expansion of regulated crypto activities in both Japan and Southeast Asia.
Watch out for new products that relate to its stablecoin, JPYSC, as well as tokenized assets and cross-border payments. Also important to note is the Bitbank acquisition that the company intends to make.
Also Read: EDX Markets Raises $76M Series C Led By SBI Holdings
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