SBI Holdings Takes Majority Control of Singapore’s Coinhako to Deepen Asian Crypto Footprint

• Japan’s SBI Holdings secured a majority stake in Singapore’s Coinhako crypto exchange to reinforce its regional expansion in Asia.

SBI Holdings, Inc., a publicly listed Japanese company, has renewed its efforts to broaden its reach across Asia’s cryptocurrency sector. On Friday, the Ripple-affiliated conglomerate confirmed a majority acquisition of Coinhako Group, a Singapore-based crypto exchange and wallet provider.

The transaction was completed via the firm’s Singapore subsidiary, SBI Ventures Asset, which oversees regional growth through targeted equity investments.

MAS-Approved Deal

Coinhako operates mainly through Hako Technology Pte. Ltd., which holds a Major Payment Institution license from the Monetary Authority of Singapore (MAS), the city-state’s central bank. The platform is also supported by Alpha Hako Ltd., a British Virgin Islands–domiciled crypto asset service provider registered with the BVI Financial Services Commission.

MAS has approved SBI’s acquisition of a controlling interest in Coinhako.

SBI Group Laser-Focused on Coinhako

SBI noted that Singapore has long been a strategic target, with the aim of building a core hub for its digital asset strategy in the region. The group intends to use the acquisition to help develop a digital asset economic zone locally.

The Japanese firm is also working with Startale Group to advance on-chain innovation. The two recently collaborated on the launch of the JPYSC stablecoin, a potential rival to JPYC, Japan’s first yen-pegged stablecoin.

“This acquisition of Coinhako represents a significant step in advancing our group’s global digital asset strategy,” SBI said in a press release. “By combining the customer base, expertise, and regional network that Coinhako Group has cultivated through operating a regulated cryptocurrency exchange in Singapore with the SBI Group’s financial services, technology, and global network, we will expand our global corridor for digital assets, starting from Japan and Southeast Asia.”

The agreement also arrives as Japan and Singapore mark 60 years of diplomatic relations.

Singapore: Ahead of the Curve in Digital Asset Regulations

Yoshitaka Kitao, Chairman and President of SBI Holdings, said Singapore has been “ahead of the curve” on digital asset regulation, a key factor in the decision to acquire Coinhako, which he commended for its “solid customer base and business know-how.”

Yusho Liu, Co-Founder of Coinhako, viewed the acquisition as a natural progression to the company’s next growth phase and a foundation for expanding its ecosystem.

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