SBI completes Coinhako purchase after MAS approval in Singapore

Japan’s SBI Holdings has moved to tighten its grip on the Asian crypto market after regulators in Singapore cleared its planned takeover of Coinhako. The financial services group said it has acquired a majority stake in Holdbuild, the parent company of the Singapore-based crypto exchange Coinhako, following approval from the Monetary Authority of Singapore (MAS).

In an announcement made Thursday, SBI stated that MAS authorization allowed it to acquire shares from existing shareholders via a capital injection. As a result, Coinhako will become a consolidated subsidiary of SBI, giving the Japanese company direct control over a regulated trading platform operating in one of Asia’s most important financial hubs.

Key takeaways

• SBI acquired a majority stake in Holdbuild, the parent of Coinhako, after MAS approval.
• MAS authorization enabled the deal through a capital injection, making Coinhako a consolidated SBI subsidiary.
• Coinhako operates under a Major Payment Institution license via its subsidiary, Hako Technology Pte. Ltd.
• SBI says it will combine Coinhako’s customer base and regional footprint with its own financial services and digital asset initiatives, including JPYSC.
• Financial terms were not disclosed, and SBI did not provide immediate additional details about the transaction.

Singapore regulator clears SBI’s majority stake

SBI’s move centers on Coinhako’s corporate structure in Singapore. The exchange is held through Holdbuild, and Coinhako itself operates with a Major Payment Institution license granted by MAS through Hako Technology Pte. Ltd. That licensing context matters because it ties the exchange’s activities to the regulatory framework governing payment-related services in Singapore.

According to SBI’s announcement, the key gating item was MAS approval. Once granted, SBI proceeded with a share acquisition from existing shareholders through a capital injection rather than disclosing other transaction mechanics. With the approval now complete, SBI’s ownership shift enables Coinhako to be brought into SBI’s consolidation scope.

SBI previously outlined its intention to buy a majority stake in February, setting up expectations that the acquisition would require regulatory confirmation before finalization. Thursday’s update effectively marks the transition from planned consolidation to execution.

Why the Coinhako platform fits SBI’s regional strategy

SBI framed Singapore as a core part of its digital asset strategy and presented the Coinhako acquisition as a way to strengthen its presence in Southeast Asia. In practical terms, SBI said it wants to combine Coinhako’s customer base and regional network with its own financial services and digital asset business lines.

That includes SBI’s JPYSC stablecoin initiative. While the announcement does not provide new technical details in the material provided, SBI’s stated intent signals that it sees value in connecting a regulated exchange footprint with settlement and collateral workflows tied to its stablecoin effort.

For investors and market participants, the consolidation of Coinhako matters because it can accelerate SBI’s ability to deploy its digital asset ambitions beyond Japan. It also reduces the friction of building distribution from scratch in an already regulated environment where local partners and compliance infrastructure often determine speed to market.

SBI also pointed to operational steps following the acquisition, including plans to hold its first overseas branch managers’ meeting in Singapore this summer. The company’s emphasis on on-the-ground leadership suggests it intends to treat the Singapore expansion as more than a passive investment.

SBI’s rapid build-out: acquisitions, tokenization, and infrastructure

The Coinhako deal lands amid a broader push by SBI to expand its digital asset footprint through acquisitions, partnerships, and blockchain-focused projects. Earlier in the same month, SBI led a $76 million Series C funding round for institutional crypto exchange EDX Markets, according to the information in the source material. SBI also said it plans to acquire Bitbank for $289 million, a strategy aimed at positioning the combined operations among Japan’s largest crypto exchanges.

That pattern—buying regulated or institution-facing platforms and then layering in SBI’s technology and financial products—appears to be consistent across markets. In addition to the Coinhako acquisition, SBI has been pursuing tokenization initiatives. This week, SBI partnered with Ondo Finance to bring tokenized Japanese stocks to market while integrating JPYSC stablecoin into settlement and collateral workflows, as referenced in the source material via an Ondo-related announcement.

In February, SBI and Startale Group unveiled Strium, a layer-1 blockchain designed around tokenized securities and real-world assets. The source material describes the network as intended to support 24/7 trading and tokenized equity settlement, as SBI expands its infrastructure for institutional financial applications.

Taken together, these moves show SBI trying to connect three parts of the crypto stack: regulated market access (via exchanges), asset tokenization (via security and RWA initiatives), and settlement infrastructure (via stablecoins and blockchain rails). The Coinhako acquisition fits that blueprint by bringing a Southeast Asian user base and trading operation into SBI’s consolidated structure.

What remains unclear and what to watch next

While SBI confirmed the majority stake acquisition and the regulatory basis for it, the company did not disclose financial terms in the announcement. SBI also did not immediately provide additional details when the source attempted to contact the company for transaction information.

For the weeks ahead, readers should watch for how SBI integrates Coinhako into its product roadmap—particularly whether the exchange’s operations become more directly tied to JPYSC settlement or other SBI-linked digital asset services. With Coinhako now positioned as a consolidated subsidiary, the next sign of progress may be changes to operational structure, regional expansion plans, or partnerships that leverage SBI’s institutional and tokenization efforts.