SBI Holdings has taken a majority stake in Coinhako, one of Singapore's longest-running crypto asset platforms, after receiving approval from the Monetary Authority of Singapore.
The Japanese financial conglomerate completed the acquisition on July 16 through its subsidiary SBI Ventures Asset Pte. Ltd., according to a statement from SBI Holdings. The transaction combined a capital injection into Coinhako's holding entity, Holdbuild Pte. Ltd., with the purchase of shares from existing investors. Coinhako now becomes a consolidated subsidiary of SBI Holdings.
SBI first disclosed its intention to acquire Coinhako in February, framing the deal as part of a broader push to build out its digital asset business across Asia. The Singapore approval process took roughly five months to clear.
Coinhako was founded in 2014 and has grown into one of Singapore's established crypto platforms, operating through two regulated entities: Hako Technology Pte. Ltd., which holds a Major Payment Institution license from the Monetary Authority of Singapore, and Alpha Hako Ltd., registered as a crypto asset service provider with the British Virgin Islands Financial Services Commission.
The acquisition was described as a "significant step" in SBI Holding's global digital asset strategy, which positions Singapore as a "key base."
"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," SBI Holdings said in a statement .
SBI Holdings has been one of the more acquisitive traditional financial institutions in crypto, having built out exchange, custody and asset management businesses in Japan through its SBI Digital Asset Holdings arm. The Coinhako deal extends that strategy into Southeast Asia, adding a second regulated market to SBI's crypto footprint alongside its home base in Japan.
What happens next will depend on how SBI integrates Coinhako's operations with its existing digital asset infrastructure, and whether it uses the Singapore base to pursue further regional licenses or acquisitions.
