The Japanese financial giant SBI Holdings has executed a decisive move for its Asian expansion by signing a letter of intent to acquire a majority stake in the exchange Coinhako. This strategic operation, channeled through its subsidiary SBI Ventures Asset Pte. Ltd., grants the conglomerate direct access to a platform with institutional license in Singapore, validated by the local monetary authority to operate legally in the digital asset market.
The technical structure of the deal contemplates both a fresh capital injection and the purchase of shares from existing investors, which will turn Coinhako into a consolidated subsidiary of the group once regulatory approval is obtained. Although financial details, such as the exact investment amount, remain under confidentiality, the immediate fiscal integration will allow SBI to report these operations on its global balance sheet, strengthening its dominant position in Southeast Asia.
The MAS license validates the digital asset corridor
By securing control of an entity holding the Major Payment Institution license from the MAS (Monetary Authority of Singapore), SBI is not just acquiring technology, but top-tier legal security. Chairman Yoshitaka Kitao has emphasized that the goal is to build a digital powerhouse that goes beyond spot trading, focusing on the creation of cross-border corridors and the tokenization of securities that require strict regulatory compliance.
This acquisition follows SBI’s historical “playbook,” replicating the strategy of 2020 when it acquired 90% of market maker B2C2 and the subsequent takeover of BITPoint Japan. It is crucial to differentiate this structural investment from market speculation; SBI has recently clarified that its exposure to Ripple is a 9% equity stake, debunking the holding massive of XRP tokens and reaffirming its investment thesis in pure blockchain infrastructure, not price volatility.
How will Coinhako integrate into SBI’s global ecosystem?
The incorporation of Coinhako operations into the SBI network creates an immediate synergy with other group entities, such as SBI VC Trade and the joint venture AsiaNext. This interconnected network allows SBI to offer deep institutional liquidity and segregated custody services, mitigating operational risks that have historically affected the sector, as evidenced following the absorption of DMM Bitcoin accounts in 2025 after a security incident.
Founded more than a decade ago, the Singaporean platform also brings a regulated entity in the British Virgin Islands through Alpha Hako Ltd., expanding the group’s offshore reach. By combining retail access with institutional solutions, SBI is building a “liquidity corridor” that connects key jurisdictions, facilitating capital flows efficient between Japan, Singapore, and the rest of the world under a unified compliance umbrella.
The completion of this deal will depend on the final scrutiny of regulators, whose approval will validate SBI’s model of aggressive but regulated expansion. It will be fundamental to monitor the upcoming technical milestones of the integration, as this could redefine custody and settlement standards for institutional investors in the Asia-Pacific region towards the end of 2026.
