Key Takeaways:
SBI Holdings, the Japanese financial conglomerate and key Ripple partner, acquired a majority stake in Singapore-based cryptocurrency exchange Coinhako on July 16 after receiving approval from the Monetary Authority of Singapore. The deal included a capital injection and share purchases from existing investors, though financial terms were not disclosed.
"The SBI Group seeks to establish a global corridor for digital assets by connecting exchanges worldwide, ultimately realizing a world where investors can make optimal investment choices without being hindered by borders or currency barriers," Yoshitaka Kitao, Chairman and CEO of SBI Holdings, said.
Coinhako operates under Holdbuild Pte. Ltd., with its licensed exchange unit Hako Technology holding a Major Payment Institution license from MAS. The platform has served more than 400,000 users across Singapore's regulated crypto environment for over a decade. SBI Ventures Asset Pte. Ltd. executed the transaction, transforming Coinhako into a consolidated subsidiary of the Japanese group.
The acquisition gives SBI Holdings a regulated foothold in one of Asia's most developed crypto jurisdictions, supporting its plans to link Japanese and Southeast Asian markets through compliant digital finance frameworks. The company aims to roll out services spanning stablecoins, asset tokenization, blockchain-based finance, and cross-border crypto exchange offerings. SBI is already developing JPYSC, Japan's first trust-structured yen-backed stablecoin, through its collaboration with Startale. The deal coincides with the 60th anniversary of Japan-Singapore diplomatic relations, and SBI plans to hold its inaugural international branch managers' conference in Singapore later this year.
The acquisition strengthens SBI Holdings' position as a bridge between Japan's regulated crypto market and Southeast Asia's growing digital asset ecosystem. With Coinhako's regulatory standing and user base, SBI gains the infrastructure to compete with other licensed exchanges in Singapore while advancing its broader vision of an Asia-Pacific digital asset corridor. The deal also signals continued institutional appetite for regulated crypto entities in Singapore, where MAS maintains one of the strictest licensing regimes globally.
This article is for informational purposes only and does not constitute investment advice.
