Nikolas Sargeant
Japanese financial conglomerate SBI Holdings is moving to deepen its cryptocurrency sector presence by seeking a controlling position in Singapore-based exchange Coinhako, marking another significant expansion by one of Japan's largest financial groups into regulated digital asset markets.
SBI Holdings announced Friday that its wholly owned subsidiary, SBI Ventures Asset, has signed a letter of intent with Coinhako's parent company, Holdbuild, to inject capital into the business and purchase shares from existing investors. If completed, the transaction would give SBI Holdings a majority stake and make Coinhako a consolidated subsidiary, subject to regulatory approval.
"Bringing Coinhako into the SBI Group as a consolidated subsidiary is not merely an investment in a single platform," stated chairman and CEO Yoshitaka Kitao, describing the acquisition as part of a broader effort to build international infrastructure for digital assets including tokenized securities and stablecoins.
Financial terms and ownership details were not disclosed, with both the investment structure and share purchases remaining under discussion. The nonbinding deal would provide SBI with a licensed base in Singapore, one of Asia's key regulated cryptocurrency hubs, expanding the group's geographic footprint beyond Japan.
Founded in Singapore, Coinhako operates a regional digital asset trading platform and related services through Hako Technology, a Major Payment Institution licensed by the Monetary Authority of Singapore. The group also operates Alpha Hako, a registered virtual asset service provider overseen by the British Virgin Islands Financial Services Commission.
SBI Holdings previously invested in Coinhako in 2021 through the SBI-Sygnum-Azimut Digital Asset Opportunity Fund, a joint vehicle with Switzerland's Sygnum Bank. The earlier minority investment established a relationship between the two organizations before the current majority stake discussions.
Coinhako co-founder and CEO Yusho Liu stated the partnership would allow the exchange to scale institutional-grade systems and meet "surging demand for tokenized assets and stablecoins, ensuring Singapore remains at the heart of the world's next-generation financial system."
SBI Holdings has maintained active involvement in blockchain ventures for several years, investing across tokenization projects, payment networks, and cryptocurrency-related businesses. In December 2025, the firm partnered with Web3 infrastructure firm Startale Group to develop a fully regulated Japanese yen-denominated stablecoin targeting tokenized asset markets and cross-border settlement. The token would be issued and redeemed by Shinsei Trust & Banking, a unit of SBI Shinsei Bank, while licensed crypto exchange SBI VC Trade would handle its circulation.
In August, SBI Group partnered with blockchain oracle network Chainlink to build digital asset tools for financial institutions across Japan and the Asia-Pacific region. The ongoing partnerships demonstrate SBI's systematic approach to building blockchain infrastructure rather than making isolated investments.
The Coinhako acquisition, if completed, would give SBI Holdings a strategically positioned exchange operating under Singapore's well-regarded regulatory framework. Singapore's Monetary Authority has established clear digital asset guidelines attracting numerous international cryptocurrency businesses to establish regulated operations in the city-state.
