SBI Holdings Acquires Coinhako Majority Stake, Deepens its Asia Crypto Footprint

CN
2 hours ago

Key Takeaways

  • SBI acquired control of Coinhako on July 16 after MAS approval, expanding its Singapore footprint.
  • Coinhako gives SBI a regulated Singapore base, tightening competition across Asia’s crypto market.
  • SBI plans stablecoins and tokenization, building on Bitbank’s $289M deal and JPYSC.

SBI Holdings has acquired a controlling stake in Singapore crypto platform Coinhako, expanding its digital asset operations across Southeast Asia.

The Japanese financial conglomerate completed the transaction on July 16 through its Singapore subsidiary, SBI Ventures Asset. The deal included a capital injection and the purchase of shares from existing investors.

SBI said it received the necessary approvals from the Monetary Authority of Singapore, according to its official statement. Coinhako will now become a consolidated subsidiary of the group.

The acquisition gives SBI access to Coinhako’s customer base, regional network and experience operating within Singapore’s regulated digital asset market.

SBI has identified Singapore as a major hub for its broader Asia-Pacific strategy. The company aims to build connections between digital asset platforms in Japan and Southeast Asia while developing cross-border trading services.

Chairman and President Yoshitaka Kitao said the group wants to create a global digital asset corridor enabling investors to move across markets without being limited by currencies or national borders. He commented:

“We are very pleased that Coinhako, with its solid customer base and business know-how, has joined the SBI Group. By quickly realizing various synergies between the two companies, we will provide next-generation financial services as soon as possible.”

Coinhako co-founder and CEO Yusho Liu described the deal as a natural next step for the company. He said SBI’s financial resources and business network would support Coinhako’s expansion across Southeast Asia.

SBI plans to explore services involving tokenization, stablecoins, on-chain finance and international digital asset transactions. The company also expects Coinhako to work with its existing crypto infrastructure and financial businesses.

One potential area of cooperation is JPYSC, a trust-based yen stablecoin being developed by SBI and blockchain infrastructure company Startale.

The Coinhako deal follows a series of digital asset investments by SBI. In June, the group agreed to acquire Japanese crypto exchange Bitbank for nearly $289 million.

SBI has also partnered with the Solana Foundation to support an on-chain financial market in Japan. Earlier this week, it announced a collaboration with Ondo Finance focused on tokenizing Japanese equities.

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