Japan’s SBI Holdings has signed a letter of intent to buy a controlling stake in Singapore-licensed crypto exchange Coinhako. Japanese financial conglomerate SBI Holdings is moving to deepen its presence in the crypto sector, announcing plans to take a controlling position in Singapore-based exchange Coinhako. In a Friday announcement, the Tokyo-listed firm said its wholly owned subsidiary, SBI Ventures Asset, has signed a letter of intent with Coinhako’s parent company, Holdbuild, to inject capital into the business and purchase shares from existing investors. If completed, the transaction would give SBI Holdings a majority stake and make Coinhako a consolidated subsidiary, subject to regulatory approval. “Bringing Coinhako into the SBI Group as a consolidated subsidiary is not merely an investment in a single platform,” chairman and CEO Yoshitaka Kitao said, describing the acquisition as part of a broader effort to build international infrastructure for digital assets, including tokenized securities and sta...
SBI Holdings received regulatory approval to acquire a majority stake in Singapore-based crypto exchange Coinhako as it expands into stablecoins, onchain finance and tokenized assets. Japanese financial services group SBI Holdings has acquired a majority stake in Holdbuild, the parent company of Singaporean crypto platform Coinhako, after receiving regulatory approval from Singapore’s central bank. The approval from the Monetary Authority of Singapore (MAS) enabled SBI to acquire company shares from existing shareholders through a capital injection, making Coinhako a consolidated subsidiary of SBI, the company announced on Thursday. Coinhako holds a Major Payment Institution license under MAS through its subsidiary, Hako Technology Pte. Ltd. SBI announced its intent to acquire a majority stake in the Singaporean crypto exchange in February. Read more