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- The deal gives SBI access to a licensed crypto platform operated by Singapore’s central bank.
- Coinhako will support the digital strategy of the Central Asia group.
- The acquisition complements SBI’s recent push into securities and stablecoins.
- The company continues to expand its crypto space through acquisitions and partnerships.
SBI completed the acquisition on July 16 after receiving approval from the Monetary Authority of Singapore (MAS).
The service is provided by the Japanese financial group Coinhako, whose subsidiary, Hako Technology, is licensed by the Major Payment Institution (MPI).
The regulatory approval provides SBI with an established platform to provide digital services in Singapore, one of the most regulated cryptocurrency markets in Asia.
Coinhako serves more than 400,000 customers, providing SBI with a retail and corporate user base as it expands its regional operations. Financial terms of the transaction were not disclosed.
The acquisition was completed through SBI Ventures Asset Pte. Ltd. using a combination of newly released shares and purchases from existing ones.
Creating a Digital Asset Network
SBI has decided to acquire it as part of its efforts to connect digital markets across all geographies.
Chairman and Chief Executive Yoshitaka Kitao has stated the company’s mission is to build a global digital infrastructure, allowing digital assets to flow smoothly across borders through a well-managed system.
This strategy includes several elements of SBI’s growing ecosystem:
- Official crypto exchange in major Asian markets.
- JPYSC, a yen-backed stablecoin for on-chain returns.
- Real world assets, including currencies and other financial instruments.
- A cross-border payment infrastructure built on blockchain technology.
Singapore is expected to play a major role in this network, with SBI planning to hold its first overseas branch manager meeting in the city later this year.
Tokenization Strategy Continues to Run
Coinhako’s acquisition follows several digital initiatives announced by SBI in recent months.
A day before the deal was closed, the company partnered with Ondo Finance to expose Japanese currencies through Ondo Global Markets. Under the plan, JPYSC will be used for debt settlement and collateral management.
The latest deal follows SBI’s deal announced in June to buy Japanese cryptocurrency exchange Bitbank and increase its investment in the EDX Markets trading platform.
Taken together, the developments show how SBI is integrating a formal exchange, stablecoin infrastructure and value platforms into a single digital financial system.
Competition Moves Beyond Crypto Trading
This finding indicates a significant shift among financial institutions operating in the digital world.
Instead of competing in the cryptocurrency market, companies are increasingly investing in regulated products that can support stable securities, stablecoin payments and set limits.
For SBI, having a franchised exchange in Singapore offers more than just expanding space. It establishes a regulated gateway to Southeast Asia that can support long-term corporate ambitions in the mainstream economy, while strengthening its approach to connecting traditional financial services with blockchain markets.
