MAS Clears the Deal Japan's SBI Holdings has completed its acquisition of a majority stake in Singapore-based crypto exchange Coinhako (@coinhako), with the deal becoming effective on July 16
Japan's SBI Holdings has completed its acquisition of a majority stake in Singapore-based crypto exchange Coinhako (@coinhako), with the deal becoming effective on July 16 following regulatory clearance from the Monetary Authority of Singapore (MAS). SBI obtained the necessary approval from MAS for a capital injection and share purchase through its subsidiary SBI Ventures Asset Pte. Ltd., making Coinhako a consolidated subsidiary as of that date.
Neither SBI Holdings nor Coinhako disclosed the financial terms of the acquisition.SBI had announced its intentions for the deal back in February 2026.Coinhako operates through Hako Technology Pte. Ltd., which holds a Major Payment Institution license from MAS, and Alpha Hako Ltd., a crypto asset service provider registered with the BVI Financial Services Commission.
Both co-founders are set to continue leading Coinhako after the acquisition. Coinhako CEO Yusho Liu said joining the SBI Group is "a natural step" for Coinhako's next phase of growth.
The Coinhako deal is not a standalone move. In just the past month, SBI launched JPYSC, Japan's first trust bank-backed yen stablecoin, announced a lending product for the token, partnered with the Solana Foundation to build a Japan-based onchain financial market, and acquired Japanese crypto exchange Bitbank for nearly $289 million.SBI also partnered with Ondo Finance to boost the expansion of the yen-backed stablecoin.
SBI Holdings is partnering with Ondo Finance to tokenize Japanese equities, settling trades through its own regulated yen stablecoin, JPYSC.Building this infrastructure on a yen-denominated stablecoin backed by a trust bank removes the FX friction for Japanese investors.
By combining Coinhako's customer base, know-how, and regional network with SBI's financial services, technology, and global network, SBI aims to expand the global corridor for digital assets originating from Japan and Southeast Asia.SBI Holdings Chairman and President Yoshitaka Kitao said the acquisition goes beyond purchasing a crypto exchange and represents another step toward creating global infrastructure for tokenized finance, noting that the growing tokenization of financial assets is increasing the need for regulated digital asset infrastructure capable of supporting cross-border financial services.
The deal reflects a broader trend of traditional financial institutions increasing investments in regulated crypto infrastructure instead of launching entirely new platforms.
Sources:SBI Holdings Expands Asia Crypto Presence With Coinhako Acquisition - Crypto TimesSBI extends onchain finance push with Ondo deal to tokenize Japanese stocks - The BlockSBI Holdings partners with Ondo Finance to tokenize Japanese stocks using yen stablecoin - Crypto Briefing
