SBI Holdings has completed the acquisition of a majority stake in Singapore-based cryptocurrency exchange Coinhako, marking another move in the Japanese financial group’s expanding digital asset strategy across Asia.

The transaction closed on July 16 after receiving approval from the Monetary Authority of Singapore (MAS), bringing Coinhako under SBI’s corporate structure. The acquisition follows a number of digital asset initiatives by SBI, including its agreement to acquire Japan’s Bitbank and its partnership with Ondo Finance to support the tokenization of Japanese equities using its yen-backed stablecoin.

Coinhako Becomes Part of SBI’s Digital Asset Business

SBI Holdings announced that it has acquired a controlling interest in Holdbuild Pte. Ltd., the parent company of Coinhako. The transaction combined a capital injection along with the purchase of shares from existing investors, although the companies did not disclose the financial terms.

Following the completion of the deal, Coinhako officially became an SBI Holdings subsidiary. Through its entity Hako Technology, the exchange operates under a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore.

The acquisition also gives SBI access to Coinhako’s network of more than 400,000 customers, as well as its established operations and regulatory experience across Southeast Asia.

SBI Outlines Cross-Border Digital Asset Strategy

SBI Chairman and Chief Executive Officer Yoshitaka Kitao said the acquisition supports the group’s objective of connecting digital asset exchanges across multiple jurisdictions.

According to Kitao, the company plans to create a global digital asset network that allows investors to participate in markets without being limited by national borders or currency barriers. He also described Singapore as an important market because of its advanced regulatory framework for digital assets.

SBI said Coinhako will become part of its broader digital finance business, which includes its yen-backed stablecoin JPYSC. The company also plans to expand services related to tokenization, stablecoins, blockchain-based finance, and cross-border payments linking Japan with Southeast Asia.

Coinhako co-founder and Chief Executive Officer Yusho Liu said the partnership will provide the exchange with broader institutional support and access to SBI’s financial ecosystem. He added that the company intends to use those resources to continue developing digital financial services across the region.

Related: SBI Holdings to Acquire Crypto Exchange Bitbank in $288 Million Deal