SBI Holdings Moves to Acquire Controlling Stake in Singapore‑Based Exchange Coinhako
Tokyo‑listed financial group aims to make the Singapore platform a consolidated subsidiary, strengthening its foothold in the regulated crypto market of Southeast Asia.
Deal outline
On 13 February 2026, SBI Holdings disclosed that its wholly‑owned arm, SBI Ventures Asset, has entered into a non‑binding letter of intent with Holdbuild, the parent of Singapore’s digital‑asset exchange Coinhako. The agreement proposes a capital injection together with the purchase of existing shareholders’ stakes, which, if approved by regulators, would give SBI Holdings a majority ownership and allow the exchange to be accounted for as a consolidated subsidiary.
Financial terms, the exact percentage of equity to be acquired and the final ownership structure have not been revealed. The parties indicated that the investment vehicle and the share‑sale arrangements are still under discussion.
Strategic rationale
SBI Holdings’ chairman and chief executive, Yoshitaka Kitao, framed the transaction as more than a single‑platform investment. According to the company, bringing Coinhako into the SBI Group is part of a wider plan to develop an international infrastructure for digital assets, encompassing tokenized securities, stablecoins and other regulated financial products.
Coinhako operates a licensed crypto‑trading service in Singapore through Hako Technology, a Major Payment Institution authorised by the Monetary Authority of Singapore (MAS). The group also runs Alpha Hako, a virtual‑asset service provider registered with the British Virgin Islands Financial Services Commission, giving it a multi‑jurisdictional regulatory footprint.
The acquisition would give SBI an established, MAS‑licensed base in one of Asia’s most mature crypto ecosystems, supporting the group’s ambition to offer institutional‑grade services in the region.
Background on the partnership
SBI Holdings first entered the Coinhako ecosystem in 2021 via the SBI‑Sygnum‑Azimut Digital Asset Opportunity Fund, a joint vehicle with Swiss‑based Sygnum Bank. At the time, the investment was positioned as a strategic foothold in Southeast Asia’s growing digital‑asset market.
Coinhako’s co‑founder and CEO, Yusho Liu, welcomed the prospective deeper tie‑up, noting that the additional resources would enable the exchange to upgrade its technology stack and meet rising demand for tokenized assets and stablecoins, reinforcing Singapore’s role as a hub for next‑generation finance.
SBI’s broader blockchain agenda
The move aligns with a series of recent SBI initiatives aimed at expanding its blockchain footprint:
- Regulated stablecoin – In December 2025, SBI partnered with Startale Group to launch a fully regulated Japanese yen‑denominated stablecoin, to be issued and redeemed by Shinsei Trust & Banking and circulated on SBI VC Trade, the group’s licensed exchange.
- Oracle collaboration – Earlier this year, SBI Group teamed up with Chainlink to develop digital‑asset tools for financial institutions across Japan and the Asia‑Pacific region.
- Ongoing tokenisation projects – The conglomerate continues to invest in token‑backed securities, payment‑network enhancements and other crypto‑related ventures.
These activities suggest that the Coinhako acquisition is intended to complement SBI’s existing infrastructure, providing a gateway to the broader Southeast Asian market while adhering to a permissioned‑by‑regulation approach.
Regulatory considerations
Because Coinhako holds an MPI licence from MAS, any change in control will require the regulator’s approval. Singapore’s policy framework, which favours licensed, permissioned platforms, has made the market attractive for institutional players. The approval process is expected to focus on compliance, AML/CFT standards and the impact on market competition.
Key takeaways
- Majority control – If the LOI culminates in a completed transaction, SBI Holdings will hold a controlling interest in Coinhako, making the exchange a consolidated subsidiary.
- Strategic expansion – The deal deepens SBI’s presence in a regulated Asian crypto hub, complementing its existing Japanese and European activities.
- Regulatory hurdle – MAS approval is essential; the transaction’s non‑binding nature means final terms remain fluid.
- Infrastructure boost – Coinhako’s licensed status and regional brand could accelerate SBI’s rollout of tokenized securities, stablecoins and other digital‑asset services across Southeast Asia.
- Synergy with existing projects – The acquisition dovetails with SBI’s stablecoin rollout, Chainlink partnership and broader tokenisation strategy, positioning the group as a multi‑jurisdictional crypto infrastructure provider.
Outlook
Analysts view the move as a calculated step by SBI Holdings to secure a regulated entry point into Southeast Asia’s rapidly evolving digital‑asset landscape. By leveraging Coinhako’s license and regional client base, SBI could accelerate the deployment of its tokenised asset platforms and stablecoin offerings, while also positioning itself advantageously for future cross‑border settlement solutions.
The transaction’s final shape, valuation and timing will depend on negotiations with existing shareholders and the outcome of MAS’s regulatory review. Nonetheless, the announcement underscores SBI’s commitment to building an integrated, permissioned crypto ecosystem that spans Japan, Singapore and beyond.
Source: https://cointelegraph.com/news/sbi-holdings-majority-stake-singapore-crypto-exchange-coinhako?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
