SBI Holdings 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 transaction closed July 16 through SBI's subsidiary SBI Ventures Asset Pte. Ltd., which injected capital into Coinhako parent Holdbuild Pte. Ltd. and purchased shares from existing shareholders. The acquisition positions Singapore as a strategic base for SBI's digital asset expansion in Southeast Asia, a region the Japanese financial group selected for its advanced regulatory framework for cryptocurrency operations.
SBI Ventures Completes Capital Injection and Share Purchase
SBI Ventures Asset Pte. Ltd. executed the transaction by injecting capital into Holdbuild Pte. Ltd., Coinhako's parent company, and purchasing shares from existing shareholders. The deal made Coinhako a consolidated subsidiary of SBI Holdings. Coinhako operates through two regulated entities: Hako Technology Pte. Ltd., which holds a Major Payment Institution license from MAS, and Alpha Hako Ltd., a crypto asset service provider registered with the British Virgin Islands Financial Services Commission. The platform built a customer base across Southeast Asia over a decade of operations.
SBI Announces Digital Asset Corridor and Stablecoin Integration
SBI Holdings stated it will combine Coinhako's customer base, operational expertise, and regional network with its own financial services, technology, and global footprint. The company announced plans to expand a digital asset corridor starting with Japan and Southeast Asia, and to develop services tied to its JPYSC yen-denominated stablecoin. SBI identified opportunities in tokenization, on-chain finance, and cross-border trading. Chairman Yoshitaka Kitao stated the group aims to create a global corridor for digital assets by connecting exchanges worldwide, enabling investors to make investments without barriers from national borders or currency differences. Coinhako co-founder and CEO Yusho Liu described the deal as a natural step, stating SBI's backing provides the firm a stronger foundation.
SBI Holdings Executes Series of Crypto Acquisitions and Partnerships
The Coinhako acquisition follows multiple crypto-related transactions by SBI Holdings, which holds more than 14 million users and $308 billion in assets under custody. In the past month, SBI led EDX Markets' $76 million Series C funding round, backed risk manager Gauntlet, launched JPYSC, and partnered with the Solana Foundation on an on-chain financial market in Japan. In June, the group agreed to buy Tokyo exchange Bitbank for about $289 million. This week, SBI teamed with Ondo Finance to tokenize Japanese equities. JPYSC does not support withdrawals to external wallets, which confines its use to SBI's own platform.
FAQ
When did SBI Holdings complete the acquisition of Coinhako?
SBI Holdings completed the acquisition on July 16 through its subsidiary SBI Ventures Asset Pte. Ltd., which injected capital into Coinhako parent Holdbuild Pte. Ltd. and purchased shares from existing shareholders after securing approval from the Monetary Authority of Singapore.
What regulatory licenses does Coinhako hold?
Coinhako operates through Hako Technology Pte. Ltd., which holds a Major Payment Institution license from the Monetary Authority of Singapore, and Alpha Hako Ltd., a crypto asset service provider registered with the British Virgin Islands Financial Services Commission.
What recent crypto acquisitions has SBI Holdings made?
SBI Holdings led EDX Markets' $76 million Series C funding round, agreed to buy Tokyo exchange Bitbank for about $289 million in June, backed risk manager Gauntlet, launched the JPYSC yen-denominated stablecoin, partnered with the Solana Foundation on an on-chain financial market in Japan, and teamed with Ondo Finance to tokenize Japanese equities.
