Japanese financial giant SBI Holdings has secured a 1.11 trillion SHIB position after completing its majority stake purchase of Singapore-based crypto exchange Coinhako. This acquisition follows approval from the Monetary Authority of Singapore (MAS).
Details of the Acquisition
Coinhako, established in 2014 by Singaporean entrepreneurs, has been among the earliest licensed crypto platforms in the region. It received in-principle approval from MAS in late 2021 and obtained its full Major Payment Institution (MPI) license by May 2022, allowing regulated digital payment token services.
With the deal finalized, Coinhako now operates as a consolidated subsidiary of SBI Holdings, reinforcing SBI's presence in Asia's regulated crypto market.
Background on Shiba Inu and the SHIB Tokens
Shiba Inu (SHIB) launched in August 2020 as an Ethereum-based ERC-20 token created by an anonymous entity known as Ryoshi. It started with a total supply of one quadrillion tokens, half of which Ryoshi transferred to Ethereum co-founder Vitalik Buterin. Buterin subsequently burned a large portion and donated a significant share to charity.
SHIB gained rapid popularity as a community-driven alternative to Dogecoin (DOGE), experiencing notable price rallies and widespread retail interest.
- SBI Holdings completed the Coinhako acquisition with MAS approval.
- Coinhako holds a Major Payment Institution license since May 2022.
- 1.11 trillion SHIB tokens are now under SBI's control through this transaction.
This article is for informational purposes and does not constitute financial advice.
