SBI Holdings acquires majority stake in Singapore exchange Coinhako after MAS approval

SBI Holdings has acquired a majority stake in Singapore-based digital asset platform Coinhako after securing approval from the Monetary Authority of Singapore (MAS), the firm announced. The deal was executed through SBI subsidiary SBI Ventures Asset and closed on July 16, at which point Coinhako became a consolidated subsidiary. Financial terms of the transaction were not disclosed.

Coinhako operates primarily via Hako Technology, which holds a Major Payment Institution license from MAS, and Alpha Hako, a crypto asset service provider registered with the British Virgin Islands Financial Services Commission. The group is positioned as an early mover in Singapore's regulated digital asset market, serving retail and institutional users in the region.

SBI framed the acquisition as a core move in its broader APAC digital asset strategy, with Singapore designated as a key hub. The group is also working with Startale on an on-chain financial infrastructure stack, including JPYSC, described as Japan's first trust-type yen stablecoin, and aims to build a "digital asset economic zone" spanning Japan and Southeast Asia.

Post-deal, SBI plans to combine Coinhako's customer base, compliance track record and regional network with the group's financial services capabilities and global reach. The companies said they intend to link Coinhako into SBI's stablecoin and digital finance infrastructure, including JPYSC, and to develop services that connect users and capital flows between Japan and Southeast Asia.

SBI highlighted future initiatives in tokenization, stablecoins, on-chain finance and cross-border transactions, subject to local regulatory regimes. The group also noted the deal coincides with the 60th anniversary of diplomatic relations between Japan and Singapore and plans to convene its first overseas branch managers meeting in Singapore later this year.

"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," said Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings. He added that SBI aims to "swiftly unlock a wide range of mutual synergies—including our initiatives around JPYSC."

"Joining SBI Group is the natural next chapter for Coinhako," said Coinhako co-founder and CEO Yusho Liu, citing the company's decade-long buildout of a "trusted and compliant digital asset platform" in Southeast Asia and the ability, with SBI's backing, to deliver "the next generation of digital financial services" across the region.