Japanese financial conglomerate SBI Holdings has finalized its majority acquisition of Coinhako, a licensed cryptocurrency exchange based in Singapore, following approval from the Monetary Authority of Singapore (MAS). The deal strengthens SBIs push to build a cross-border digital asset network linking Japan with Southeast Asia.
Coinhako, which holds a Major Payment Institution license from MAS, will be folded into SBIs expanding digital asset ecosystem. The Singapore exchange operates in one of Asias most regulated and fastest-growing crypto markets, serving both retail and institutional clients across the region.
Financial terms of the acquisition were not disclosed. However, SBI stated that the deal aligns with its strategy to create an integrated financial services platform that spans traditional banking, securities, and digital assets across multiple Asian jurisdictions.
Singapore has emerged as a leading hub for cryptocurrency businesses in Asia, thanks to its clear regulatory framework under MAS. The city-state requires crypto service providers to obtain licenses and comply with anti-money laundering and counter-terrorism financing requirements, which has attracted established financial players seeking compliant entry points into the digital asset space.
SBI Holdings has been one of the most active traditional financial institutions in the cryptocurrency sector. The Tokyo-based conglomerate has partnered with or invested in numerous crypto-related ventures, including Ripple, the SBI VC Trade exchange, and various blockchain infrastructure projects. It also maintains a significant presence in the stablecoin and tokenization markets through partnerships with Ondo Finance and the Solana Foundation.
The acquisition of Coinhako adds a regulatory-compliant platform in Singapore to SBIs portfolio, allowing the Japanese giant to offer crypto trading and custody services to clients in both markets. It also positions SBI to capitalize on growing institutional demand for digital assets across Asia, where regulatory clarity is increasingly attracting traditional finance participants.
This article was adapted from The Block. Read the original here.
