SBI Holdings Completes Majority Stake Acquisition in Coinhako

SBI Holdings said it completed a capital injection and purchase of existing shares in Singapore crypto platform Coinhako through its subsidiary SBI Ventures Asset Pte. Ltd., with approval from the Monetary Authority of Singapore. On July 16, it acquired a majority stake, and Coinhako became a consolidated subsidiary. According to Foresight News, Coinhako’s licensed unit, Hako Technology Pte. Ltd., holds a Major Payment Institution license issued by MAS. SBI Holdings said the acquisition is an important step in its global digital asset strategy and will combine Coinhako’s customer base and compliance experience in Singapore with SBI Group’s financial services and global network to expand cross-border digital asset channels starting from Japan and Southeast Asia. The company also plans further integration with digital financial services, including its JPYSC yen stablecoin.