SBI Holdings Takes Majority Stake in Singapore’s Coinhako After MAS Approval

Assets Under Custody

$308 billion

Total assets managed by SBI Holdings.

User Base

14 million

Number of users associated with SBI Holdings.

EDX Markets Series C Funding

$76 million

Amount SBI led in EDX Markets' Series C funding round.

§ 01 Executive Snapshot

What: SBI Holdings acquires a majority stake in Coinhako, a Singapore-based cryptocurrency platform.
Who: SBI Holdings, Coinhako, Monetary Authority of Singapore (MAS).
Why it matters: This acquisition positions SBI to enhance its digital asset strategy in Southeast Asia, leveraging Coinhako's established platform and customer base.

SBI completed the acquisition on July 16, making Coinhako a consolidated subsidiary.
The acquisition was facilitated through SBI Ventures Asset Pte. Ltd., which injected capital into Coinhako parent Holdbuild Pte. Ltd.
Coinhako operates under a Major Payment Institution license from MAS and is also registered with the British Virgin Islands Financial Services Commission.

Coinhako has spent a decade building a customer base in Southeast Asia, a region now targeted by SBI for its digital asset expansion.
SBI's acquisition aligns with its broader strategy to create a global digital asset corridor, aiming to connect exchanges worldwide.

The acquisition may lead to immediate competitive advantages for SBI in the Southeast Asian market by utilizing Coinhako's established infrastructure and customer trust.
Long-term implications may include the development of new services tied to stablecoins and tokenization, enhancing SBI's position in the digital asset ecosystem.

Regulatory uncertainties in the cryptocurrency space could pose challenges to SBI’s expansion plans.
The limitation of JPYSC not supporting withdrawals to external wallets restricts its immediate utility beyond SBI’s platform.

Key milestones include the rollout of services tied to the JPYSC stablecoin and developments in tokenization and cross-border trading.
Future regulatory changes in Singapore or other Southeast Asian countries may signal the success or failure of this acquisition and SBI's strategy.

§ 07

What did SBI Holdings acquire?

SBI Holdings acquired a majority stake in Coinhako, a Singapore-based cryptocurrency platform.

Why is SBI's acquisition of Coinhako significant?

This acquisition enhances SBI's digital asset strategy in Southeast Asia by leveraging Coinhako's established platform and customer base.

When was the acquisition of Coinhako completed?

The acquisition was completed on July 16.

Who facilitated the acquisition of Coinhako?

The acquisition was facilitated through SBI Ventures Asset Pte. Ltd.