SBI Holdings Acquires Cryptocurrency Exchange Coinhako Following Approval from Singapore Authorities
SBI Holdings has announced the completion of its acquisition of Coinhako, a cryptocurrency platform based in Singapore, after receiving approval from the Monetary Authority of Singapore (MAS).
The transaction was finalized on July 16, following formal approval from MAS, and Coinhako will now join SBI as a consolidated subsidiary. This acquisition was carried out through SBI's subsidiary, SBI Ventures Asset Pte. Ltd.
The company has secured controlling shares by injecting new capital into Holdbuild Pte. Ltd., the parent company of Coinhako, and acquiring shares from existing shareholders. However, specific financial terms and the acquisition amount have not been disclosed at this time.
Competitive Advantage in Southeast Asia Through Licensing
Coinhako is one of the longest-standing cryptocurrency platforms in Singapore, boasting a robust customer network of over 400,000.
The company operates through Hako Technology Pte. Ltd., which has obtained a Major Payment Institution (MPI) license from MAS, giving it a strong compliance advantage under strict regulations.
As regulations on digital assets tighten across Asia, acquiring a company that already has regulatory approval and a regional presence offers financial institutions a significant advantage in accelerating market entry compared to applying for a license from scratch.
Currently, in Singapore, prominent companies such as Ripple, OKX, and Crypto.com have received approvals for business expansion, while Robinhood has emerged through its acquisition of Bitstamp, intensifying competition among licensed firms.
Global Strategy Merging Traditional Finance and Digital Assets
Yoshitaka Kitao, Chairman and CEO of SBI, mentioned that this acquisition is a crucial step in supporting the company's long-term vision of "interconnecting digital asset exchanges across different jurisdictions."
The company aims to build a global next-generation network that allows investors to access markets seamlessly across borders and fiat currencies, integrating Coinhako's regional infrastructure and customer base with its own financial ecosystem, including the yen-backed stablecoin "JPYSC." This will accelerate the development of advanced digital financial services such as cross-border payments, asset tokenization, and on-chain finance connecting Japan and Southeast Asia.
Accelerating SBI's Cryptocurrency and Web3 Ecosystem
In recent years, while traditional financial institutions have taken a cautious approach to investing in digital assets, SBI has intensified its investment and expansion strategy in this area.
The company is advancing plans to acquire Bitbank to establish one of Japan's largest exchanges domestically, while also leading a significant fundraising round for EDX Markets, a cryptocurrency exchange for institutional investors, internationally. Furthermore, SBI is diversifying its Web3 foundation by providing tokenized Japanese stocks in partnership with Ondo Finance and developing a 24/7 payment infrastructure through the Layer 1 blockchain Strium in collaboration with StarTail Group.
SBI highly values the growth potential of the Southeast Asian market and Singapore's advanced regulatory framework, positioning the region as a key hub for its global strategy, with plans to hold its first overseas branch manager meeting in the area in the summer of this year (2026).
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