SBI gains MAS approval to acquire Singapore crypto exchange Coinhako
SBI Holdings has secured regulatory approval to acquire a majority stake in Singapore's Coinhako, accelerating the Japanese financial group's push to build a borderless digital asset trading corridor across Asia.
SBI Holdings has completed its majority acquisition of Singapore-based cryptocurrency platform Coinhako. The purchase was executed through subsidiary SBI Ventures Asset and follows formal approval from the Monetary Authority of Singapore.
The deal brings Coinhako’s main operating entity, Hako Technology, under SBI’s control. Hako holds a Major Payment Institution license from MAS, a highly valuable regulatory asset as authorities tighten oversight of digital asset firms. Coinhako also operates Alpha Hako, a crypto asset service provider registered with the British Virgin Islands Financial Services Commission.
For SBI, the acquisition is a strategic bridge between two major Asian financial hubs. The conglomerate plans to merge Coinhako's Southeast Asian customer base and regional network with its own global footprint. The immediate goal is to establish a seamless digital asset corridor connecting Japan and Southeast Asia, removing traditional friction points for regional investors.
This corridor will serve as the foundation for a suite of new digital finance products. SBI intends to leverage the combined network to advance its JPYSC yen-denominated stablecoin. The company also plans to explore cross-border trading, tokenization, and onchain finance, aiming to eliminate currency and geographic barriers for global investors.
Aggressive crypto expansion
The Coinhako purchase is the latest in a rapid, heavily capitalized sequence of digital asset investments by SBI. Over the past month, the firm became the sole investor in Gauntlet's $125 million Series C round and led a $76 million Series C for EDX Markets. In June, the company acquired Japanese crypto exchange Bitbank for nearly $289 million.
SBI has simultaneously pushed into tokenized real-world assets, partnering with Ondo Finance this week to tokenize Japanese equities. It also collaborated with the Solana Foundation to build onchain financial markets in Japan. “Singapore, where regulations related to digital assets are ahead of the curve, is a crucial region in this regard, and we are very pleased that Coinhako, with its solid customer base and business know-how, has joined the SBI Group,” SBI Chairman Yoshitaka Kitao said.
By pairing regulated Asian gateways like Coinhako and Bitbank with infrastructure plays in stablecoins and tokenization, SBI is positioning itself as a primary conduit for institutional capital. The strategy relies on acquiring compliant platforms to safely route capital across borders.
