SBI Holdings takes majority stake in Singapore crypto platform Coinhako

SBI Holdings is buying a majority stake in Coinhako, a Singapore-based digital asset platform, the Japanese financial conglomerate said. The deal, structured through SBI Ventures Asset, involves a fresh capital injection and share purchases from existing investors. Financial terms were not disclosed.

Coinhako holds a license from the Monetary Authority of Singapore. It has more than 400,000 registered users and serves both retail and institutional clients. The platform was founded in 2014.

The acquisition still requires regulatory approval. SBI is also pursuing the purchase of bitbank, a Japanese crypto exchange, in a deal valued at about $289 million.

SBI has a long history in digital assets, including its partnership with Ripple and its operation of SBI VC Trade in Japan. The Coinhako deal extends its reach into Southeast Asia.

If both deals close, SBI would own regulated crypto exchanges in two Asian jurisdictions. The bitbank acquisition timeline remains unclear.