SBI Holdings has finalized its acquisition of a majority stake in the Singapore-based cryptocurrency platform CoinHako on July 16, after receiving approval from the Monetary Authority of Singapore (MAS).
The transaction positions SBI to expand its digital asset services across Southeast Asia, utilizing Coinhako’s established licensing framework. This move marks a significant step for SBI in connecting exchanges, stablecoins, and tokenized assets in the region.
Completed through SBI Ventures Asset Pte. Ltd., the acquisition involved injecting fresh capital into CoinHako while buying out existing shareholders. While SBI has not disclosed the financial specifics of the deal, including the stake percentage or CoinHako's valuation, it shows the company's strategic focus on enhancing its presence in the region.
CoinHako, operating since 2014 under Hako Technology Pte. Ltd., has benefited from Singapore’s clear regulatory environment for cryptocurrencies. The acquisition grants SBI access to CoinHako's established customer base and operational framework.
Yoshitaka Kitao, the Chairman and President of SBI, described the purchase as a critical component of the firm's initiative to create a global corridor for digital assets. CoinHako co-founder Yusho Liu emphasized that the merger is key for the company’s next phase of growth.
Following the acquisition, SBI is also engaging with Ondo Finance to tokenize Japanese equities, leveraging its yen stablecoin, JPYSC, to facilitate transactions. This strategic partnership highlights SBI’s ambitious agenda in expanding its footprint in the digital asset landscape.
This material is for informational purposes only and does not constitute financial advice.
