SBI Holdings acquires Coinhako to anchor Asian digital asset corridor

SBI Holdings has closed its acquisition of a majority stake in Singapore-based cryptocurrency exchange Coinhako. The Japanese financial group purchased the stake through subsidiary SBI Ventures Asset Pte. Ltd., which injected capital into parent Holdbuild Pte. Ltd. and bought out existing shareholders. The transaction concluded on July 16 following approval from the Monetary Authority of Singapore, making Coinhako a consolidated subsidiary.

The purchase is designed to anchor SBI’s digital asset strategy in Southeast Asia. SBI intends to merge Coinhako’s regional customer base with its own financial infrastructure to build a cross-border trading corridor connecting Japan and Southeast Asia. A central piece of this strategy involves expanding the reach of JPYSC, SBI’s recently launched yen-denominated stablecoin, alongside new services in tokenization and on-chain finance.

Chairman Yoshitaka Kitao framed the acquisition as a step toward eliminating geographic friction in digital asset markets. “Our group aims to create a global corridor for digital assets by connecting exchanges around the world, enabling investors worldwide to make optimal investments without being hindered by national borders or currency barriers,” he said. Kitao cited Singapore’s regulatory framework as a primary attraction for the deal.

The Coinhako transaction caps a rapid expansion of SBI’s crypto operations. The conglomerate, which oversees $308 billion in assets under custody and serves more than 14 million users, recently agreed to acquire Tokyo-based Bitbank for roughly $289 million. Over the past month, SBI has also led a $76 million Series C funding round for EDX Markets, backed risk manager Gauntlet, partnered with the Solana Foundation, and collaborated with Ondo Finance to tokenize Japanese equities.

For Coinhako, the acquisition promises institutional backing after a decade of organic growth under Singapore’s strict licensing regime. The platform operates through Hako Technology Pte. Ltd., which holds a Major Payment Institution license from MAS. “For the past 10 years, we have built from the ground up Southeast Asia’s most trusted and legally compliant cryptocurrency platform in the world’s most advanced regulatory environment,” said co-founder and CEO Yusho Liu.

SBI’s cross-border ambitions still face technical constraints. JPYSC currently does not support withdrawals to external wallets, restricting the stablecoin’s utility to SBI’s proprietary platforms. Until that limitation is lifted, the envisioned seamless regional corridor will remain incomplete.