SBI Acquires Coinhako
SBI Holdings acquires majority stake in Coinhako, expanding digital asset presence in Singapore.
Anonymous
Key Points
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SBI Chairman and President Yoshitaka Kitao framed the Coinhako deal as part of a plan to create a global corridor for digital assets, emphasizing that Singapore's regulatory approach makes the market a priority: “Our group aims to create a global corridor for digital assets by connecting exchanges worldwide, enabling investors worldwide to make optimal investments without being hindered by borders or currency barriers.”
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The acquisition was channeled through SBI Ventures Asset, SBI’s Singapore-based arm, which injected capital and bought shares through Holdbuild Pte. Ltd.; Coinhako’s co-founders Yusho Liu and Gerry Eng are named as the platform’s representatives.
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The assets SBI acquired include Hako Technology’s Major Payment Institution license from MAS and Alpha Hako’s registration as a crypto-asset service provider with the British Virgin Islands Financial Services Commission, forming the core regulatory licenses SBI bought.
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Coinhako is reported to have more than 400,000 registered users, underscoring its scale within Singapore’s regulated crypto landscape as SBI integrates it into its pan-Asia strategy.
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The deal is being formalized via a letter of intent between SBI Ventures Asset and Holdbuild Pte. Ltd., with MAS approvals secured for both the capital injection and the share purchase, and regulatory terms indicating no immediate changes to Coinhako’s customer accounts.
Japan's SBI Holdings has acquired a majority stake in Holdbuild Pte. Ltd., the parent company of Singapore crypto exchange Coinhako, making Coinhako a consolidated subsidiary of the Japanese financial giant, according to Coinfomania. Singapore's Monetary Authority of Singapore approved both the capital injection and the share purchase, which was channeled through SBI Ventures Asset, SBI's Singapore-based arm.
The deal gives SBI control of Coinhako's two core regulatory licenses — a Major Payment Institution license from MAS and a crypto-asset service provider registration in the British Virgin Islands — along with a user base of more than 400,000 registered customers, Coinlaw reported. Financial terms were not disclosed.
SBI Bets on Singapore as Its Asia Digital-Asset Hub
SBI Chairman Yoshitaka Kitao laid out the strategy plainly. "Our group aims to create a global corridor for digital assets by connecting exchanges worldwide," he said, "enabling investors worldwide to make optimal investments without being hindered by borders or currency barriers." Singapore sits at the center of that plan, Coingape reported.
SBI has been expanding its crypto footprint across Asia for years. It already partners with Ripple in Japan. The Coinhako deal now gives it a regulated base in Southeast Asia, Bloomingbit reported. Singapore's clear licensing regime made it the logical anchor point for the group's regional push.
How the Deal Was Structured Through Holdbuild
SBI Ventures Asset bought into Coinhako by injecting capital and purchasing shares through Holdbuild Pte. Ltd., the exchange's holding company. The transaction was formalized via a letter of intent between SBI Ventures Asset and Holdbuild, Coinlaw reported. MAS approved each step — the capital injection and the share purchase — separately.
Coinhako operates under two entities. Hako Technology holds the MAS Major Payment Institution license. Alpha Hako is registered as a crypto-asset service provider with the British Virgin Islands Financial Services Commission. Those two licenses are the core assets SBI acquired. Coinhako's co-founders Yusho Liu and Gerry Eng remain named as the platform's representatives, according to Coinfomania.
Stablecoins and Cross-Border Finance Are Next
The acquisition is not a standalone move. SBI plans to link Coinhako's platform to its broader digital-asset ecosystem, which includes the JPYSC, a planned yen-denominated stablecoin. The goal is to build cross-border, on-chain financial services across Japan and Southeast Asia, Moomoo reported.
Tokenization and cross-border payments are the key use cases SBI is targeting. Coinhako's existing user base of 400,000 gives it a ready audience in one of Asia's most regulated crypto markets. SBI sees Singapore as the bridge between Japan and the rest of the region, Bloomingbit reported.
No Immediate Changes for Coinhako Customers
Despite the ownership shift, no immediate changes to customer accounts were announced. MAS approval covered the deal's structure, but the regulatory terms do not require Coinhako to alter how it serves existing users, Coinlaw reported. The exchange continues to operate under its current MAS license.
SBI's move signals a broader trend: large regulated financial groups are buying licensed crypto platforms rather than building from scratch. Coinhako's licenses took years to secure. For SBI, acquiring them was faster and lower-risk than applying for new ones in a foreign market, Coingape noted.
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