SBI Holdings is taking a controlling position in Coinhako, a Singapore-based digital asset platform that has been operating under the country’s regulatory framework since 2014. The Japanese financial conglomerate plans to turn Coinhako into a consolidated subsidiary, marking another aggressive step in what’s becoming a very deliberate Asian crypto acquisition spree.
The deal, initiated through SBI’s subsidiary SBI Ventures Asset, involves both a fresh capital injection and share purchases from existing investors. Financial terms haven’t been disclosed.
What SBI is actually buying
Coinhako holds regulation under Singapore’s Monetary Authority of Singapore. It serves both retail and institutional clients and has accumulated over 400,000 registered users in Singapore.
The acquisition was structured through a letter of intent signed between SBI Ventures Asset and Holdbuild Pte. Ltd., Coinhako’s parent company. The deal still requires regulatory approval before it can close.
SBI’s bigger playbook across Asia
SBI Holdings has been expanding across Asian crypto markets. The company is also pursuing the acquisition of bitbank, a Japanese crypto exchange, in a deal estimated at approximately $289 million. That transaction, combined with the Coinhako deal, paints a clear picture: SBI wants to own regulated crypto infrastructure across multiple Asian jurisdictions.
SBI Holdings has a long history of involvement in digital assets, including its well-known relationship with Ripple and its operation of SBI VC Trade in Japan. The Coinhako acquisition extends that playbook into Southeast Asia.
Rather than building new platforms or applying for fresh licenses, SBI is acquiring entities that already have regulatory standing, established user bases, and operational track records.
What this means for investors
Investors should keep an eye on whether the regulatory approval comes through cleanly and how SBI integrates Coinhako’s operations with its existing digital asset businesses. The bitbank acquisition timeline will also be instructive, as managing two major crypto platform integrations simultaneously is no small feat, even for a company of SBI’s scale.