SBI Holdings acquired a controlling stake in Singapore crypto platform Coinhako on July 16, expanding its digital asset operations across Southeast Asia. The Japanese financial conglomerate completed the transaction through its Singapore subsidiary, SBI Ventures Asset, following approval from the Monetary Authority of Singapore. The deal included a capital injection and the purchase of shares from existing investors, making Coinhako a consolidated subsidiary of the SBI Group. The acquisition supports SBI's strategy to build connections between digital asset platforms in Japan and Southeast Asia while developing cross-border trading services. This move follows SBI's June agreement to acquire Japanese crypto exchange Bitbank for nearly $289 million, signaling an aggressive expansion into Asia's regulated digital asset markets.
SBI Completes Coinhako Acquisition With MAS Approval
SBI Holdings completed the acquisition on July 16 through its Singapore subsidiary, SBI Ventures Asset. The transaction received the necessary approvals from the Monetary Authority of Singapore, according to SBI's official statement. The deal structure included a capital injection and the purchase of shares from existing investors. Coinhako will now operate as a consolidated subsidiary within the SBI Group.
The acquisition gives SBI access to Coinhako's customer base, regional network and experience operating within Singapore's regulated digital asset market. Coinhako co-founder and CEO Yusho Liu described the deal as a natural next step for the company, stating that SBI's financial resources and business network would support Coinhako's expansion across Southeast Asia.
Coinhako Strengthens SBI's Singapore Digital Asset Base
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.
Kitao 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."
SBI Plans Stablecoin and Tokenization Services Through Coinhako
SBI plans to explore services involving tokenization, stablecoins, on-chain finance and international digital asset transactions. The company 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.
SBI Expands Digital Asset Portfolio With Bitbank and Partnership Deals
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.
FAQ
What did SBI Holdings acquire on July 16?
SBI Holdings acquired a controlling stake in Singapore crypto platform Coinhako on July 16 through its Singapore subsidiary, SBI Ventures Asset. The transaction received approval from the Monetary Authority of Singapore and included a capital injection and the purchase of shares from existing investors, making Coinhako a consolidated subsidiary of the SBI Group.
Why did SBI Holdings acquire Coinhako?
SBI acquired Coinhako to expand its digital asset operations across Southeast Asia and strengthen its Singapore presence. The acquisition gives SBI access to Coinhako's customer base, regional network and experience operating within Singapore's regulated digital asset market, supporting SBI's strategy to build connections between digital asset platforms in Japan and Southeast Asia.
What other digital asset deals has SBI Holdings completed recently?
In June, SBI 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 and announced a collaboration with Ondo Finance focused on tokenizing Japanese equities.
