SBI Holdings’ agreement to buy a majority of leading Singaporean Coinhako will broaden its access to the city-state’s active digital-assets customer base and set up a global corridor between its native Japan and the key Asian financial hub.
In a transaction led by SBI’s Singaporean subsidiary SBI Ventures Asset Pte. Ltd., the Japanese financial conglomerate will provide investment capital to the Coinhako Group and acquire shares in Coinhako from several existing shareholders, according to a 13 Feb statement.
Driven by tokenization
The companies cited the increase in appetite for tokenization. "In this era of tokenization, the importance of global infrastructure for digital assets is growing ever greater," SBI Holdings Chairman Yoshitaka Kitao said.
Coinhako referred to the "surging demand for assets and ," with Yusho Liu, co-founder and CEO, saying the deal will help it to scale its institutional-grade infrastructure.
Early exchange in Singapore
SBI didn’t disclose how the capital injection or the share purchases will be conducted, saying that these are "ongoing discussion and subject to receipt of the relevant regulatory approvals."
When the transaction is completed, "Coinhako is expected to become a consolidated subsidiary of SBI Holdings," according to the statement. Coinhako is one of the earliest crypto exchanges in Singapore, founded in 2014, with more than 400,000 registered users locally. Over the past two years, the platform said it has facilitated over $10bn in crypto settlements to a growing base of institutional clients across the region.
Gold standard payment license
Another valuable asset is Coinhako’s Major Payment Institution licence, which allows it to formally operate as a regulated provider of Digital Payment Token Services under the Payment Services Act. The coveted license is considered the "gold standard" for crypto operations in Singapore, as it requires rigorous compliance with and consumer protection standards.
Besides SBI, Coinhako’s backers include Tim Draper, Boost VC, Jump Capital, Sygnum Bank, and Azimut Investment Management.
Considered a Japanese "comprehensive internet financial group." SBI has been busy putting together deals as a quick entry point to acquire licenses rather than build from scratch. In March 2025, it bought a majority in Berlin-based Solaris SE, and last month made a strategic investment in US prime broker Clear Street.
