SBI Holdings has inherited over 1.11 trillion Shiba Inu tokens as part of its majority acquisition of Singapore-based cryptocurrency platform Coinhako, on-chain data reveals. The acquisition, which received approval from the Monetary Authority of Singapore, adds a significant SHIB position to SBI’s expanding digital asset portfolio.
On-chain analysis shows that the SHIB holdings were part of Coinhako’s exchange reserves, which transferred to SBI upon completion of the acquisition. The deal positions SBI as one of the largest institutional holders of the memecoin, alongside entities like Robinhood, which holds approximately 39.27 trillion SHIB.
The acquisition is part of SBI Holdings’ broader strategy to build a comprehensive digital asset network across Asia. The Japanese financial conglomerate has been aggressively expanding its crypto footprint through acquisitions, partnerships, and product launches.
Coinhako, which holds a Major Payment Institution license from MAS, provides SBI with a regulated platform to serve customers in Singapore and potentially the broader Southeast Asian market. The exchange offers spot trading, custody, and over-the-counter services.
The inclusion of a substantial SHIB position in the acquisition highlights how memecoins have become a significant component of exchange balance sheets and institutional crypto portfolios. While SHIB was originally created as a meme token, its widespread retail adoption has made it one of the most traded cryptocurrencies by volume.
This article was adapted from U.Today. Read the original here.
