SBI Holdings completes acquisition of Singapore's Coinhako to expand in Southeast Asia

SBI Holdings has completed its acquisition of a majority stake in Singaporean virtual asset platform Coinhako, making it a subsidiary. The company announced that the transaction was finalized on July 16 after receiving approval from the Monetary Authority of Singapore (MAS). Coinhako provides regulated digital asset services through Hako Technology, which holds a Major Payment Institution (MPI) license. SBI stated that the acquisition will provide it with Coinhako's customer base, operational expertise, and regional network. The company plans to build a digital asset ecosystem connecting Japan and Southeast Asia, expanding its business into cryptocurrency trading, a Japanese yen stablecoin (JPYSC), security tokens, on-chain finance, and cross-border payments.