SBI Holdings, Inc. announced last Friday that the firm intends to acquire a majority stake in the Singapore digital asset platform Coinhako Group.
SBI said in a statement that its wholly-owned subsidiary, Singapore-based SBI Ventures Asset Pte. Ltd. has entered into a letter of intent with Singapore-based Holdbuild Pte. Ltd. to provide investment capital to the Coinhako as well as acquire shares in Coinhako from several existing shareholders.
Upon completion of the proposed transaction, Coinhako is expected to become a consolidated subsidiary of SBI Holdings.
Specific methods for carrying out the capital injection as well as the acquisition of shares from the existing shareholders of the Coinhako are currently under ongoing discussion and are subject to receipt of the relevant regulatory approvals.
Coinhako operates primarily through Hako Technology Pte. Ltd., a major payment institution licensed and regulated by the Monetary Authority of Singapore (MAS), and Alpha Hako Ltd., a registered virtual asset service provider regulated by the BVI Financial Services Commission.
This proposed transaction marks a significant milestone in the SBI’s global digital asset strategy.
By integrating Coinhako Group’s decade-long operational expertise and robust digital asset infrastructure with SBI’s extensive financial resources and global network, the two entities endeavor to establish a next-generation digital asset powerhouse in Asia.
SBI and Coinhako will maximize synergies between both parties to provide seamless services that bridge traditional and next-generation finance for both retail and institutional clients.
“In this era of tokenization, the importance of global infrastructure for digital assets is growing ever greater,” stated Yoshitaka Kitao, Representative Director, Chairman & President of SBI Holdings.
“Bringing Coinhako into the SBI Group as a consolidated subsidiary is not merely an investment in a single platform,
“By integrating it with the digital space ecosystem SBI have built, this is a solid step toward realizing the SBI Group’s strategy: expanding the global corridor for digital assets and creating next-generation finance including tokenized stock and stable coin,” he added.
Meanwhile, Yusho Liu, Co-founder and Chief Executive Officer of the Coinhako, said the alignment with the SBI Group accelerates their mission to be the premier digital asset hub for Asia.
“Mr. Kitao’s vision for a global digital corridor perfectly mirrors our own ambitions,
“With SBI Group’s extensive network and resources, Coinhako will scale its institutional-grade infrastructure to meet the surging demand for tokenized assets and stable coins, ensuring Singapore remains at the heart of the world’s next-generation financial system,” he added.