SBI Holdings to Acquire Controlling Stake in Singaporean Crypto Exchange Coinhako, Bolstering Regional Digital Asset Ambitions

Japanese financial conglomerate SBI Holdings is set to significantly deepen its engagement in the cryptocurrency sector with plans to secure a controlling interest in the Singapore-based digital asset exchange, Coinhako. This strategic move underscores SBI Holdings’ commitment to expanding its global footprint in digital assets, including a focus on tokenized securities and stablecoins.

In a formal announcement made on Friday, the Tokyo-listed financial giant revealed that its wholly owned subsidiary, SBI Ventures Asset, has entered into a letter of intent with Coinhako’s parent company, Holdbuild. The agreement outlines a plan for SBI Ventures Asset to inject capital into Coinhako and acquire shares from existing investors. Upon successful completion of this transaction, which is contingent upon regulatory approvals, SBI Holdings would hold a majority stake in Coinhako, thereby making it a consolidated subsidiary.

Yoshitaka Kitao, Chairman and CEO of SBI Holdings, emphasized the strategic importance of integrating Coinhako into the SBI Group. He described the acquisition not merely as an investment in a single trading platform but as a pivotal step in the broader initiative to establish robust international infrastructure for digital assets. This infrastructure, he elaborated, is designed to support the burgeoning markets for tokenized securities and stablecoins, key components of the evolving financial landscape.

While the specific financial terms and the precise breakdown of ownership are yet to be disclosed, both the structure of the proposed investment and the details of the share purchases remain under discussion, according to the announcement. This non-binding deal, once finalized, will provide SBI Holdings with a licensed operational base in Singapore, a jurisdiction recognized as one of Asia’s primary regulated hubs for cryptocurrency activities.

Coinhako, founded in Singapore, currently operates a regional digital asset trading platform and offers related services through Hako Technology. This entity holds a Major Payment Institution (MPI) license granted by the Monetary Authority of Singapore (MAS), signifying its compliance with stringent regulatory standards. Additionally, the Coinhako group operates Alpha Hako, a virtual asset service provider registered and overseen by the British Virgin Islands Financial Services Commission.

This proposed acquisition marks a deepening of the relationship between SBI Holdings and Coinhako. In 2021, SBI Holdings had previously invested in Coinhako through the SBI-Sygnum-Azimut Digital Asset Opportunity Fund, a joint investment vehicle established in collaboration with Switzerland’s Sygnum Bank. This prior investment signaled SBI’s early recognition of Coinhako’s potential and its strategic alignment with the company’s digital asset objectives.

Yusho Liu, co-founder and CEO of Coinhako, expressed optimism about the new partnership. He stated that the collaboration with SBI Holdings would empower Coinhako to scale its institutional-grade systems and effectively address the "surging demand for tokenized assets and stablecoins." Liu further articulated his vision that this strategic alliance will help ensure Singapore’s continued prominence at the forefront of the world’s next-generation financial system.

SBI Holdings has demonstrated a consistent and expanding commitment to the blockchain and digital asset space over several years. The conglomerate has actively pursued investments in a variety of ventures, including tokenization projects, innovative payment networks, and other cryptocurrency-related businesses. This strategic approach highlights SBI’s long-term vision for integrating digital assets into traditional financial frameworks.

In a significant development in December 2025, SBI Holdings announced a partnership with Startale Group, a Web3 infrastructure company. The objective of this collaboration is to develop a fully regulated Japanese yen-denominated stablecoin. This stablecoin is specifically intended to cater to the needs of tokenized asset markets and facilitate cross-border settlement. The issuance and redemption of this stablecoin will be managed by Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank, while SBI VC Trade, a licensed cryptocurrency exchange, will be responsible for its circulation.

Further reinforcing its blockchain footprint, SBI Group engaged in a strategic partnership with Chainlink, a leading blockchain oracle network, in August. This collaboration aims to develop advanced digital asset tools tailored for financial institutions operating within Japan and across the broader Asia-Pacific region. The partnership with Chainlink underscores SBI’s commitment to leveraging cutting-edge blockchain technology to enhance financial services.

The move by SBI Holdings to acquire a controlling stake in Coinhako represents a significant step in its ongoing strategy to build a comprehensive digital asset ecosystem. By consolidating Coinhako as a subsidiary, SBI aims to leverage Coinhako’s established operational presence and regulatory licenses in Singapore to accelerate its growth and innovation in the rapidly evolving digital asset market. This acquisition is expected to further solidify Singapore’s position as a leading digital asset hub in Asia, supported by the substantial resources and strategic vision of SBI Holdings. The financial sector is keenly observing these developments as major financial players increasingly embrace and invest in the potential of digital assets and blockchain technology.