SBI Holdings acquires majority stake in Coinhako after MAS approval

Japanese financial group SBI Holdings officially acquires majority stake in Singapore crypto asset platform Coinhako

Japanese financial group SBI Holdings has officially acquired a majority stake in Singapore-based crypto asset platform Coinhako, further expanding its influence in the Asia-Pacific digital asset market. The transaction was completed after receiving approval from the Monetary Authority of Singapore (MAS) on July 16.

Transaction structure and regulatory status

SBI Holdings completed the acquisition through its Singapore subsidiary SBI Ventures Asset, which now holds a majority stake in Coinhako's parent company Holdbuild. The transaction involved capital injection and purchase of shares from existing shareholders, making Coinhako a consolidated subsidiary of the group.

Neither SBI Holdings nor Coinhako disclosed the financial terms of the acquisition. Coinhako's operations in Singapore are handled by Hako Technology, which holds a major payment institution license issued by MAS and can provide comprehensive digital payment services within Singapore's regulatory framework.

In addition, Alpha Hako, another entity under the Coinhako Group, has registered as a crypto asset service provider with The British Virgin Islands Financial Services Commission. This international layout highlights Coinhako's ambition to build a strong network in regional markets.

(Note: The Monetary Authority of Singapore (MAS) is Singapore's central bank and main financial regulator, responsible for overseeing monetary policy, banking, insurance, securities and broader financial sector regulation.)

SBI Holdings targets digital asset expansion in Asia Pacific

SBI Holdings views Singapore as a strategic growth hub for its digital asset business. The group, led by Chairman and President Yoshitaka Kitao, has partnered with Japanese blockchain company Startale to develop advanced financial infrastructure based on distributed ledger technology.

One of the cooperation projects includes JPYSC, known as Japan's first trust-type yen-denominated stablecoin. The stablecoin aims to use blockchain technology to connect investors and institutions in different jurisdictions.

Kitao Yoshihiro said his vision is to "create a global corridor for digital assets by connecting global exchanges, allowing investors to make optimal investments regardless of national borders or currency barriers."

Kitao further emphasized that Singapore's clear and mature regulatory approach makes it a high-priority location for SBI's digital finance business. To commemorate the 60th anniversary of the establishment of diplomatic relations between Japan and Singapore, SBI also plans to hold an overseas branch managers meeting in Singapore this summer.

Coinhako strengthens its presence in Southeast Asia

Coinhako was founded by Yusho Liu and Gerry Eng nearly ten years ago and has become one of the long-standing crypto trading platforms in Southeast Asia. The exchange has been operating in Singapore's evolving regulatory environment and has established a solid customer base in the region. The two co-founders will continue to lead Coinhako after the acquisition.

CEO Yusho Liu said joining SBI Group was a "natural move" for Coinhako's next phase of growth, and said the move was an opportunity to accelerate the provision of next-generation digital financial services to Southeast Asian customers.

Liu also emphasized Coinhako's decade-long insistence on regulatory compliance and investor trust. With SBI's resources and technology, he expects the platform to achieve significant expansion in major markets in Southeast Asia.

Looking ahead, SBI Holdings announced plans to explore new opportunities in areas such as tokenization, stablecoins and cross-border transactions. The company positions the acquisition of Coinhako as a bridge connecting Japan and Southeast Asia's digital asset markets, making full use of Coinhako's network and SBI's global infrastructure.

Both parties regard this cooperation as the basis for strengthening collaboration, enriching product lines and expanding regional access to digital assets.