SBI Buys Majority of Coinhako in Singapore Crypto Push

SBI Holdings took a majority stake in Coinhako after Singapore's Monetary Authority approved the deal on July 16. The Japanese financial group injected capital through SBI Ventures Asset Pte. Ltd. and bought shares from the exchange's existing investors. Coinhako now operates as a consolidated subsidiary. SBI did not disclose the investment size, the percentage acquired, or the valuation.

Coinhako, founded in 2014, holds a Major Payment Institution license from MAS. Its affiliate Alpha Hako Ltd. is registered as a virtual asset service provider in the British Virgin Islands. SBI plans to combine Coinhako's customer base, regional network and crypto operations with its own banking, securities and digital asset businesses. The company called Singapore a key market because of its digital asset rules and position in Southeast Asia.

SBI Chairman and President Yoshitaka Kitao described the purchase as part of a plan to connect exchanges across countries. Such a network could let investors trade without being limited by borders or currencies, he said. Coinhako's local presence and regulatory status were central to the decision, Kitao added. SBI expects the exchange to support services involving stablecoins, tokenized assets, cross-border trading and on-chain finance between Japan and Southeast Asia.