SBI acquires majority stake in Coinhako after MAS approval
SBI Holdings has acquired a majority stake in Holdbuild, the parent of Singapore crypto platform Coinhako, after approval from the Monetary Authority of Singapore.
SBI Holdings has acquired a majority stake in Holdbuild, the parent company of Singapore crypto platform Coinhako, after receiving approval from the Monetary Authority of Singapore. The regulator’s clearance allowed SBI to buy shares from existing holders through a capital injection and make Coinhako a consolidated subsidiary.
The approval covers Coinhako’s licensed arm, Hako Technology Pte. Ltd., which holds a Major Payment Institution licence under MAS. SBI first announced its intention to take a majority stake in February and confirmed on Thursday that the purchase has completed. Financial terms were not disclosed.
SBI will combine Coinhako’s customer base and regional network with its financial services and digital asset businesses, including the JPYSC stablecoin initiative, to expand services across Southeast Asia.
The company described Singapore as a key hub for its digital asset strategy and will hold its first overseas branch managers’ meeting there this summer to strengthen local operations.
The acquisition follows recent activity by SBI in the digital asset sector. Earlier this month the group led a $76 million Series C funding round for institutional exchange EDX Markets and has announced plans to acquire Japan’s Bitbank for $289 million. SBI has also partnered with Ondo Finance on a program to offer tokenized Japanese stocks and to use JPYSC for settlement and collateral.
SBI and Startale Group unveiled Strium, a layer-1 blockchain designed for tokenized securities and real-world assets. The network is being built to support continuous trading hours, tokenized equity settlement and institutional financial applications.
Coinhako operates as a licensed digital asset platform in Singapore and offers trading and custody services across the region. MAS approval was required for the change in control under the payment services licensing framework and the regulator’s rules on major shareholders of licensed entities.
SBI did not provide further details on the scope of integration, the timeline for product or service changes, or any immediate changes to Coinhako’s management.
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