SBI Holdings has completed the acquisition of a majority stake in Coinhako, a Singapore-based cryptocurrency platform, after securing approval from the Monetary Authority of Singapore (MAS).
The Japanese financial group made the purchase through its subsidiary SBI Ventures Asset Pte. Ltd., which injected capital into Coinhako parent company Holdbuild Pte. Ltd. and bought shares from existing shareholders. The transaction was completed on July 16, making Coinhako a consolidated subsidiary.
Coinhako operates through Hako Technology Pte. Ltd., holder of a Major Payment Institution license from MAS, and Alpha Hako Ltd., a crypto asset provider registered with the British Virgin Islands Financial Services Commission.
The platform spent a decade building a customer base across Southeast Asia, a region SBI is now positioning as a base for its digital asset strategy.
SBI plans to combine Coinhako’s customer base, operational expertise and regional network with its own financial services, technology and global footprint. The company intends to expand a digital asset corridor starting with Japan and Southeast Asia and to develop services linked to its JPYSC yen-denominated stablecoin. SBI also highlighted opportunities in tokenization, on-chain financing and cross-border trade.
“Our group aims to create a global corridor for digital assets by connecting exchanges around the world, enabling investors around the world to make optimal investments without being hindered by national borders or currency barriers,” said chairman Yoshitaka Kitao. He described Singapore as a crucial region because its digital asset regulations are ahead of the curve.
Coinhako co-founder and CEO Yusho Liu called the deal a natural step. “For the past 10 years, we have built from scratch Southeast Asia’s most trusted and legally compliant cryptocurrency platform in the world’s most advanced regulatory environment,” he said, adding that SBI’s backing gives the firm a stronger foundation.
SBI Holdings crypto moves
The acquisition caps a series of crypto moves by the conglomerate, which has more than 14 million users and $308 billion in assets under custody. In the past month, SBI led EDX Markets’ $76 million Series C, backed risk manager Gauntlet, launched JPYSC and partnered with Solana Foundation on an on-chain financial market in Japan.
In June, the group agreed to buy Tokyo exchange Bitbank for about $289 million, and this week it partnered with Ondo Finance to tokenize Japanese stocks.
One limit remains: JPYSC does not yet support withdrawals to external wallets, limiting its use to SBI’s own platform.