Japan’s SBI Holding Acquires Singapore Crypto Platform Coinhako

Japan’s financial giant SBI Holdings has acquired a majority stake in Singapore based exchange Coinhako. The deal strengthens SBI’s presence in Southeast Asia and could speed up its plans for stablecoins, tokenized assets, and cross-border digital finance.

SBI Holding Takes Control of Singapore’s Coinhako

SBI Holdings announced that it has officially acquired a majority stake in Holdbuild Pte. Ltd., the parent company of Singapore crypto exchange Coinhako.

The acquisition was completed on July 16 after receiving approval from the Monetary Authority of Singapore (MAS). The deal included a capital injection and the purchase of shares from existing investors. Meanwhile, the financial terms were not disclosed.

Following the deal, Coinhako became an SBI Holdings subsidiary. Through its unit Hako Technology, the exchange holds a Major Payment Institution (MPI) license from the MAS, which is good news for SBI Holdings.

Also, by acquiring Coinhako, SBI gains access to its 400,000+ customer base, regional network, and regulatory experience across Southeast Asia.

SBI Wants to Build a Japan–Southeast Asia Crypto Corridor

SBI Holdings Chairman and CEO Yoshitaka Kitao said the company wants to build a global network for digital assets.

“The SBI Group seeks to establish a global corridor for digital assets by connecting exchanges worldwide, ultimately realizing a world where investors can make optimal investment choices without being hindered by borders or currency barriers.”

SBI said the deal is part of its long term plan to grow its digital asset business across Asia. By combining Coinhako with its digital finance ecosystem, including Japan’s yen backed stablecoin JPYSC, SBI aims to expand tokenization, stablecoins, blockchain finance, and cross-border payment services between Japan and Southeast Asia.

Coinhako Co-founder and CEO Yusho Liu also welcomed the partnership.

“With SBI’s backing, we now have the institutional scale, the ecosystem, and the mandate to deliver the next generation of digital financial services to our customers across the region. This is just the beginning.”

SBI Builds Asia’s Tokenization Network

The acquisition comes just a day after SBI Group partnered with Ondo Finance, the company that controls nearly 60% of the global tokenized equity market, to bring Japanese stocks and real-world assets onchain. 

Under that deal, Japanese equities will be tokenized through Ondo Global Markets, while SBI’s JPYSC, Japan’s first trust backed yen stablecoin, will be used for onchain settlements and collateral. 

This shows that SBI Holding wants to expand services in tokenization, stablecoins, onchain finance, and cross-border payments between Japan and Southeast Asia.