SBI Holdings has completed its acquisition of Singapore crypto platform Coinhako after receiving MAS approval, strengthening its regulated digital asset business in Asia.
Japan's SBI Holdings has completed its acquisition of a majority stake in Singapore-based cryptocurrency platform Coinhako after obtaining the necessary approval from the Monetary Authority of Singapore (MAS), marking another step in the financial group's expansion across Asia's regulated digital asset sector.
According to an official announcement published by SBI Holdings on July 17, the transaction closed after MAS approved SBI Ventures Asset Pte. Ltd.'s capital injection into Holdbuild Pte. Ltd. the parent company of Coinhako and the purchase of shares from existing shareholders. As a result, Coinhako has become a consolidated subsidiary of SBI Holdings.
Neither SBI nor Coinhako disclosed the financial terms of the acquisition.
MAS approval clears final regulatory hurdle
The completion follows SBI's announcement in February that it had signed a letter of intent to acquire a controlling interest in Coinhako through a combination of newly issued shares and purchases from existing shareholders. At the time, the companies stated the transaction remained subject to regulatory approval from MAS.
SBI confirmed that the regulator has now granted the required approval, enabling the acquisition to close on July 16.
Founded in 2014, Coinhako has grown into one of Singapore's longest-operating cryptocurrency platforms, serving retail and institutional customers while expanding into several Southeast Asian markets. The company has operated under Singapore's evolving digital asset regulatory framework and has positioned itself as a regulated regional exchange.
Acquisition strengthens SBI's digital asset strategy
The acquisition aligns with SBI Holdings' broader strategy of building a diversified digital asset business through regulated exchanges, venture investments and blockchain infrastructure.
The Japanese financial group already operates cryptocurrency services through subsidiaries including SBI VC Trade and has invested in blockchain companies, stablecoin initiatives and digital payment infrastructure. It has also pursued acquisitions and strategic investments across Asia to strengthen its presence in regulated crypto markets.
According to SBI, integrating Coinhako expands its customer base in Southeast Asia while supporting its ambition to build a regional network of compliant cryptocurrency businesses.
The company said Coinhako's established presence in Singapore complements SBI's existing operations in Japan and other Asian markets.
Why the transaction matters
Singapore remains one of Asia's most important digital asset hubs due to its relatively mature regulatory framework.
MAS has adopted a licensing regime that permits compliant cryptocurrency businesses to operate while imposing requirements related to anti-money laundering, customer protection and operational resilience. The framework has attracted established financial institutions seeking regulated exposure to digital assets, even as Singapore has tightened retail crypto marketing rules in recent years.
Against that backdrop, acquiring an already regulated exchange provides SBI with immediate market access instead of building a new platform from scratch.
The transaction also reflects continued consolidation within the cryptocurrency industry, where larger financial groups increasingly acquire licensed exchanges to expand geographically while reducing regulatory uncertainty.
Outstanding questions remain
Although the acquisition has closed, several commercial details remain undisclosed.
SBI has not released the purchase price, valuation, ownership percentage beyond confirming it now holds a majority stake, or financial projections for Coinhako's contribution to future earnings.
The companies have also not announced whether Coinhako's management team, product roadmap or branding will change following integration into the SBI Group.
What comes next
SBI said it intends to leverage Coinhako's market position to strengthen its digital asset ecosystem throughout Southeast Asia.
Market participants will likely monitor future announcements regarding new products, institutional services, cross-border payment initiatives and possible integration with SBI's existing blockchain and cryptocurrency businesses.
The acquisition also illustrates how regulated financial institutions continue to pursue licensed digital asset businesses despite evolving regulatory requirements across global cryptocurrency markets.
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