Japan's SBI Holdings Acquires Coinhako Exchange To Expand Across Asia

Key Insights:

• SBI Holdings has acquired a majority stake in Singapore's Coinhako after receiving MAS approval.
• Coinhako will become an SBI subsidiary, giving the Japanese financial giant access to one of Singapore's crypto platforms.
• SBI plans to connect Coinhako with its JPYSC stablecoin, tokenization initiatives, and digital asset businesses across Asia.

Japan’s SBI Holdings made another big crypto acquisition last week after acquiring Singapore-based crypto exchange Coinhako. The latest acquisition followed the launch of tokenized equity initiatives with Ondo Finance, its $76 million investment in EDX Markets, and its $289 million Bitbank acquisition.

SBI Holdings is planning to form a regulated presence in Southeast Asia while laying the foundation for a cross border blockchain ecosystem.

SBI Holdings is Expanding Across Asia

Japan's SBI Holdings, the company with more than $250 billion in assets, has completed a major acquisition of a majority stake in Singapore based cryptocurrency platform Coinhako, after receiving approval from the Monetary Authority of Singapore (MAS).

The transaction was completed through a combination of a capital injection and the purchase of shares from existing investors, making Coinhako a consolidated subsidiary of SBI. Financial terms of the deal were not disclosed.

Founded in 2014, Coinhako has grown into one of Singapore's longest-running regulated crypto platforms. It serves over 480,000 users across the Asia-Pacific region.

Coinhako’s institutional platform, Coinhako Prive, accounts for 65% of the exchange's total trading volume.

For SBI, the value goes beyond acquiring another exchange. It gains a regulated customer network, local market expertise, and an operational base in Southeast Asia, one of the fastest growing regions for digital assets.

Why Singapore has Become SBI's Biggest Crypto Bet

Singapore has become one of the world's leading digital asset hubs due to its clear regulatory framework and growing institutional adoption of blockchain technology.

SBI Chairman and President Yoshitaka Kitao said the group's goal is to build a "global corridor for digital assets," connecting financial services between Japan and Southeast Asia while reducing barriers created by different currencies and national markets.

"Our group aims to create a global corridor for digital assets by connecting exchanges around the world.”

Kitao said Singapore plays a critical role in that vision because of its advanced regulatory environment and Coinhako's established position in the local market.

Stablecoins and Tokenization Become the Next Focus

The Coinhako acquisition also strengthens SBI's broader push into tokenized finance.

Earlier this week, the company partnered with Ondo Finance to bring tokenized Japanese equities on chain while integrating JPYSC, Japan's first trust-based yen stablecoin, for settlement and collateral purposes.

The company also led a $76 million Series C funding round for institutional crypto exchange EDX Markets before announcing plans to acquire Japanese exchange Bitbank in a $289 million deal.

Instead of focusing on a single business, SBI is building an interconnected ecosystem spanning regulated exchanges, tokenized securities, stablecoins, institutional trading and blockchain-based financial services.

Coinhako now becomes another important piece of that network.

Coinhako Says the Partnership Opens a New Chapter

Coinhako also described the acquisition as a major milestone for its business.

Co-founder and CEO Yusho Liu said joining SBI marks "a natural step" in the company's evolution after spending more than a decade building one of Southeast Asia's most trusted regulated cryptocurrency platforms.

"With the strong support of the SBI Group, we will gain a robust business foundation and a vast ecosystem."

Further, Liu said that the partnership will strengthen Coinhako's ability to deliver next-generation digital financial services across Southeast Asia while supporting its long-term expansion plans.

By bringing Coinhako under its umbrella, SBI gains more than a licensed exchange. It secures a regulated distribution network that could support future products such as JPYSC, tokenized securities, and institutional blockchain services across Southeast Asia.