SBI Holdings Acquires Majority Stake in Singapore Crypto Exchange Coinhako

SBI Holdings has finalized its majority acquisition of Coinhako, a Singapore based crypto platform, after receiving regulatory clearance from the Monetary Authority of Singapore (MAS). The deal was executed through SBI Ventures Asset, a subsidiary of the Japanese financial conglomerate.

Regulatory Framework Behind the Deal

Coinhako operates through two key entities. Hako Technology Pte. Ltd. holds a Major Payment Institution license issued by MAS, while Alpha Hako Ltd. functions as a crypto asset service provider registered with the British Virgin Islands Financial Services Commission. This dual-structure approach allowed Coinhako to maintain compliance across multiple jurisdictions.

Strategic Vision for Global Digital Asset Corridor

SBI plans to integrate Coinhako’s existing customer base, operational experience, and regional network with its own financial services and technology infrastructure. The initial focus centers on Japan and Southeast Asia, with expansion into broader cross-border digital asset trading.

The company also intends to develop services connected to its JPYSC yen denominated stablecoin and explore opportunities in tokenization and onchain finance.

Statement from Leadership

Yoshitaka Kitao, Chairman of SBI Holdings, emphasized the strategic importance of Singapore in the firm’s global expansion. He noted that the city-state’s advanced regulatory environment for digital assets makes it a critical hub. Kitao stated that the group aims to build a global corridor connecting exchanges worldwide, allowing investors to operate without restrictions tied to national borders or currency limitations.

Recent Crypto Initiatives by SBI

This acquisition follows several other digital asset moves by SBI in recent weeks. The firm became the sole investor in Gauntlet’s $125 million Series C round, led EDX Markets’ $76 million Series C funding, launched its JPYSC stablecoin, and partnered with the Solana Foundation to advance onchain financial markets in Japan.

Additionally, SBI acquired Japanese crypto exchange Bitbank for approximately $289 million in June and formed a partnership with Ondo Finance to tokenize Japanese equities.