SBI Announces Major Crypto Exchange Acquisition in Singapore
SBI Holdings has signed a letter of intent to acquire a majority stake in Coinhako, one of Singapore’s most established cryptocurrency exchanges.
- SBI plans to take a majority stake in Coinhako, expanding its regulated presence in Singapore.
- The deal includes new capital and share purchases, pending regulatory approval.
- Coinhako will be integrated into SBI’s broader crypto ecosystem across Asia.
- SBI clarified it holds a 9% equity stake in Ripple – not $10 billion in XRP tokens.
Once the transaction is completed, Coinhako will become a consolidated subsidiary of the Japanese financial conglomerate, strengthening SBI’s footprint across Southeast Asia.
The deal is being executed through SBI Ventures Asset Pte. Ltd., a fully owned Singapore-based subsidiary of SBI. The structure includes both a fresh capital injection into the Coinhako Group and the purchase of existing shares from current investors. While a memorandum of understanding has been signed with Coinhako’s parent company, Holdbuild Pte., the final agreement remains subject to regulatory approval. Financial details, including the size of the investment and the exact ownership percentage, have not been disclosed.
Regulated Entry Into Singapore
Coinhako holds a Major Payment Institution license from the Monetary Authority of Singapore, giving SBI immediate access to one of Asia’s most tightly regulated and strategically important financial hubs. Singapore has positioned itself as a gateway for institutional digital asset activity, and the acquisition aligns with SBI’s broader ambition to expand regulated crypto infrastructure across the region.
SBI Chairman Yoshitaka Kitao said the goal is to build what he described as a “digital asset powerhouse” in Asia. The focus will extend beyond spot crypto trading to tokenized equities, stablecoins, and cross-border digital asset corridors linking multiple jurisdictions.
Integration Into SBI’s Crypto Ecosystem
Coinhako’s retail and institutional operations are expected to be integrated into SBI’s existing crypto framework. That ecosystem already includes institutional market maker B2C2, Japanese exchange SBI VC Trade, and AsiaNext, a joint venture focused on digital asset markets.
Founded more than a decade ago, Coinhako is considered a pioneer in Southeast Asia’s crypto landscape. In addition to its Singapore presence, the group owns Alpha Hako Ltd., a regulated entity in the British Virgin Islands, further expanding its international reach.
SBI’s Pattern of Strategic Acquisitions
The planned takeover follows a familiar playbook for SBI, which has consistently targeted majority stakes in regulated digital asset firms to fold them into its broader network.
In 2020, SBI acquired a 90% stake in UK-based market maker B2C2, which now serves as a key liquidity provider within the group. Between 2022 and 2023, SBI moved to take full control of BITPoint Japan after initially purchasing a majority stake, merging its operations with SBI VC Trade. In 2025, SBI VC Trade absorbed customer accounts from DMM Bitcoin following a security incident, consolidating its position in Japan’s retail crypto market.
SBI also led a $36 million Series A funding round for Zodia Custody, backed by Standard Chartered, and remains a significant shareholder in the global custody provider despite regulatory challenges that halted plans for a Japan-focused joint venture.
Amid speculation about its exposure to XRP, Chairman Yoshitaka Kitao recently clarified that SBI does not hold $10 billion worth of XRP tokens. Instead, the firm owns a 9% equity stake in Ripple Labs, representing a strategic private investment in the company’s long-term development rather than a direct bet on token price movements.
Expanding the Digital Asset Corridor
With the proposed Coinhako acquisition, SBI continues to position itself as a central node in what it calls a global digital asset corridor. By combining regulated exchanges, institutional liquidity, custody solutions, and cross-border infrastructure, the group is building an integrated model designed to serve both retail investors and institutional clients across Asia and beyond.
If approved, the transaction would mark another step in SBI’s aggressive expansion strategy, reinforcing Singapore’s role in its regional roadmap and further consolidating its influence in the evolving digital asset industry.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
