SBI Holdings acquires majority stake in Singapore crypto platform Coinhako

Japanese financial group SBI Holdings is acquiring a majority stake in Coinhako, one of the largest crypto platforms in Singapore. Following approval from the Singaporean regulator MAS, SBI Holdings will acquire a controlling interest in Holdbuild, the parent company of Coinhako, on 16 July. This makes Coinhako a fully-fledged subsidiary of the Japanese group.

Acquisition via capital injection and share purchase

SBI Holdings is executing the acquisition through a combination of a capital injection into Holdbuild and the purchase of shares from existing shareholders. The company has not disclosed the exact transaction value. SBI Holdings announced the deal via an official press release on its own website.

The acquisition is being carried out through SBI Ventures Asset Pte. Ltd., a subsidiary of SBI Holdings based in Singapore. Holdbuild, also registered in Singapore, acts as an umbrella organisation for the entire Coinhako Group. By acquiring more than half of the shares in Holdbuild, Coinhako will be officially consolidated into SBI Holdings’ balance sheet.

Coinhako holds MAS licence for payments

A key advantage of this deal is Coinhako’s regulatory position. The company holds a Major Payment Institution licence from the Monetary Authority of Singapore through Hako Technology. This is one of the most comprehensive licenses a crypto platform can hold in Singapore and provides access to a wide range of payment services.

SBI Holdings is no stranger to the crypto and blockchain sector. The company is involved in tokenisation projects, as previously evidenced by its partnership with DTCC and Ondo Finance. The acquisition of Coinhako fits into SBI Holdings’ broader strategy to further expand its presence in the digital asset market in Asia. Singapore is regarded as one of the most important hubs for crypto regulation in the region, making the location strategically attractive for large financial institutions.