SBI Holdings has acquired Coinhako, a licensed cryptocurrency platform with a strong presence across Southeast Asia, enhancing its infrastructure for digital assets.
The acquisition bolsters SBI’s expansion in Singapore, recognized for its crypto-friendly yet tightly regulated environment. This move aligns with SBI’s vision of building a global digital asset corridor by reducing the complexities and costs associated with cross-border fund transfers.
Strategic Advancement in Stablecoins and Regional Growth
According to Coinhako co-founder and CEO Yusho Liu, the platform has been developed over the past decade to become Southeast Asia’s most trusted compliant crypto exchange within a sophisticated regulatory framework.
SBI had launched JPYSC, a yen-denominated stablecoin, earlier this year. Currently, JPYSC is limited to the SBI ecosystem due to restrictions on external wallet withdrawals. The integration of Coinhako’s exchange and user base could enable broader interoperability, pending technical and regulatory progress.
This acquisition is part of SBI’s broader crypto strategy, following its purchase of Bitbank, investments in EDX Markets and Gauntlet, and the JPYSC stablecoin rollout. also SBI recently partnered with the Solana Foundation to develop yen-backed stablecoins, tokenized assets, cross-border payments, and institutional services by combining Solana’s fast blockchain technology with SBI’s financial expertise.
The partnership aims to streamline cross-border transfers by removing intermediaries, minimizing currency conversions, and reducing settlement delays and costs.
This information is for educational purposes and does not constitute financial advice.
