SBI Holdings completes majority takeover of Coinhako in Singapore
Regulation & Gov ·
The Japanese financial group has finalized a controlling stake in the Singapore crypto exchange after clearing review by the Monetary Authority of Singapore.
SBI Holdings has completed its acquisition of a majority stake in Coinhako, bringing the Singapore-based crypto exchange under its control as a consolidated subsidiary, according to sbigroup.co.jp. The deal received regulatory approval from the Monetary Authority of Singapore, clearing the way for SBI to fold Coinhako's licensed platform into its expanding digital-asset footprint, as reported by theblock.co.
The transaction extends SBI's pattern of consolidating exchanges rather than building new licenses from scratch, a strategy also visible in Japan, where the group's $289M acquisition of Bitbank has been described as marking a new phase of consolidation as regulation pushes exchanges toward scale and institutional strength. That Bitbank deal, agreed at ¥46.7B, is set to lift SBI's crypto custody assets to ¥1.1T, underscoring the scale SBI is assembling across markets rather than confining its ambitions to its home country.
Coverage of the Coinhako deal has also been noted by wublockchain.xyz, adding to the corroborating reports that place the acquisition within SBI's broader push into Asian crypto infrastructure. The move follows a run of SBI activity spanning investment trusts, XRP-linked products, and stablecoin rails, part of what has been characterized as the most aggressive incumbent strategy pushing digital assets into mainstream finance from a Tokyo-listed conglomerate.
The Coinhako acquisition sits alongside other recent SBI initiatives, including plans by SBI Shinsei for BTC, ETH, and XRP vouchers tied to yen deposit interest, and the launch of Japan's first trust bank-backed yen stablecoin, JPYSC, currently limited to SBI VC Trade. Separately, SBI and Rakuten have been reported to be preparing crypto investment trusts ahead of 11 brokers entering the space by 2028, and SBI has also backed a $51M Series B round for Fasset to scale stablecoin rails across emerging markets.
What remains unclear is how Coinhako's operations, licensing, and branding will be integrated into SBI's existing crypto businesses, and whether the Singapore platform will be positioned to serve SBI's broader XRP and stablecoin strategy or run as a standalone regional unit. Terms of the majority stake, including the size of SBI's ownership and any financial details of the transaction, have not been disclosed in the material reviewed.