SBI Holdings scoops up Coinhako, adds Singapore to its crypto empire 🧩

SBI Holdings has closed its acquisition of a majority stake in Singapore-based cryptocurrency exchange Coinhako, the Japanese financial services group announced on Thursday. The deal was completed on July 16 after receiving approval from the Monetary Authority of Singapore (MAS), making Coinhako a consolidated subsidiary of SBI. The transaction was executed through SBI Ventures Asset Pte. Ltd. and involved a capital injection into Coinhako alongside share purchases from existing investors. Financial terms were not disclosed.

Coinhako, operated by Hako Technology Pte. Ltd., is one of Singapore's earliest crypto platforms. The company holds a Major Payment Institution license from the MAS, while its affiliate Alpha Hako Ltd. operates as a cryptocurrency asset service provider licensed by the Financial Services Commission of the British Virgin Islands. SBI first disclosed its intent to acquire a majority stake in Coinhako in February.

SBI said Singapore will continue to serve as a key hub in its broader digital asset strategy. The company plans to integrate Coinhako's customer base and regional network with its own financial services and digital asset businesses, including the JPYSC stablecoin initiative. SBI also announced plans to hold its first overseas branch managers' meeting in Singapore this summer to reinforce its local operations.

The acquisition is part of a broader SBI push into digital assets. Earlier this month, the company led a $76 million Series C funding round for institutional crypto exchange EDX Markets, and it has separately announced plans to acquire Japanese exchange Bitbank for $289 million. SBI has also partnered with Ondo Finance to bring tokenized Japanese stocks to market and integrate the JPYSC stablecoin for settlement and collateral purposes.

In February, SBI and Startale Group unveiled Strium, a layer-1 blockchain designed to support tokenized securities and real-world assets, with planned capabilities including 24/7 trading and tokenized equity settlement. SBI said Singapore will remain central as it expands its digital asset infrastructure across Japan and overseas markets.