Japan’s SBI Holdings Eyes Regional Digital Asset Hub Through Coinhako Stake

Japan’s financial heavyweight SBI Holdings Inc. is moving to take control of Singapore-based crypto platform Coinhako, marking another calculated push into Asia’s regulated digital asset markets.

SBI Holdings Targets Majority Stake in Singapore Crypto Platform Coinhako

The transaction will be executed through SBI’s wholly owned subsidiary, SBI Ventures Asset Pte. Ltd., and includes a capital injection into Coinhako alongside the purchase of shares from existing investors.

Financial terms were not disclosed, and the deal remains subject to regulatory approvals, including from the Monetary Authority of Singapore. If completed, Coinhako will become a consolidated subsidiary of SBI Holdings.

Tokyo-based SBI, founded in 1999, operates across securities, banking, insurance, and digital assets. Under Chairman and President Yoshitaka Kitao, the firm has steadily built crypto infrastructure, including exchange operations and international market-making businesses.

Coinhako, operated by Holdbuild Pte. Ltd., has more than a decade of operating history in Singapore and serves both retail and institutional clients. Its subsidiary Hako Technology Pte. Ltd. is licensed as a Major Payment Institution by Singapore’s central bank, positioning it within one of Asia’s most tightly supervised crypto markets.

The acquisition structure includes both fresh capital and share purchases, though specific mechanics are still under discussion. SBI previously took a minority stake in Coinhako in 2021, making this move an escalation rather than a first introduction.

Kitao framed the transaction as infrastructure-building rather than a one-off investment. “In this era of tokenization, the importance of global infrastructure for digital assets is growing ever greater,” he said, adding that integrating Coinhako into the group represents “a solid step toward realizing the SBI Group’s strategy.”

Coinhako CEO Yusho Liu described the alignment as mission-driven. “Our alignment with the SBI Group accelerates our mission to be the premier digital asset hub for Asia,” Liu said, pointing to plans to expand institutional-grade infrastructure for tokenized assets and stablecoins.

The move also reinforces SBI’s longstanding ties to Ripple, in which it holds equity through a partnership dating back to 2016. Online discussion following the announcement focused on potential implications for XRP adoption in Southeast Asia, though executives clarified that SBI holds equity in Ripple Labs rather than large XRP token reserves.

More broadly, the deal reflects a familiar pattern: traditional financial (TradFi) groups acquiring regulated crypto platforms to scale operations while satisfying increasingly strict compliance standards. With Singapore positioning itself as a controlled yet innovation-friendly jurisdiction, SBI appears intent on turning Coinhako into a regional anchor for tokenization, stablecoins and cross-border digital asset services.

Pending regulatory approval, the transaction could tighten the link between Japanese capital and Southeast Asian crypto infrastructure — a reminder that in digital finance, geography still matters, even when the assets themselves are borderless.

FAQ ❓

• **Why is SBI acquiring Coinhako?**SBI aims to expand its regulated digital asset footprint in Southeast Asia and accelerate tokenization initiatives.
• **Will Coinhako remain regulated in Singapore?**Yes, the deal is subject to regulatory approvals, including oversight from Singapore authorities.
• **Were financial terms disclosed?**No, SBI did not release the transaction value.
• **Does this affect Ripple or XRP?**SBI holds equity in Ripple Labs, but the acquisition itself centers on Coinhako’s platform operations.